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| Holcim posts drop in first-half net profit Holcim, the world's second-largest cement maker, said its net sales fell by 4.4 percent to CHF 12.434 billion and operating EBITDA dropped by 15.7 percent to CHF 2.802 billion. Factoring out changes in the scope of consolidation totaling CHF 210 million and negative currency translation effects of CHF 283 million, operating EBITDA decreased by only 0.9 percent. In comparison with the first quarter of 2008, the operating EBITDA margin of 22.5 percent (first half of 2007: 25.6) improved in all segments. As a result of the lower operating EBITDA and the increase in net working capital, cash flow from operating activities came to CHF 664 million (first half of 2007: 1,733). Group net income declined by 53.2 percent to CHF 1.338 billion. However, comparisons with net income in the first half of 2007 need to take account of one-off factors: the capital gain and the special dividend totaling CHF 1.3 billion arising from the sale of the stake in South Africa. Net income attributable to equity holders of Holcim Ltd decreased by 56 percent to CHF 1.066 billion. Taking into consideration the changes in the scope of consolidation and currency translation effects as well as the previous year's non-recurring capital gain and special dividend, it increased by 2.6 percent or CHF 30 million. write your comments about the article :: © 2008 Construction News :: home page |