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| Holcim reports higher sales and better 1H 2010 operating results Swiss cement giant said consolidated cement sales grew by 4.1 percent to 67.8 million tonnes in the first half of the year. Sales of aggregates increased by a more substantial 17.1 percent to 73.2 million tonnes, while sales of ready-mix concrete grew by 13.5 percent to 21.9 million cubic meters. In comparison with the first quarter of 2010, sales increased in all segments. The main contribution to volume growth came from the newly consolidated Holcim Australia. Group companies in the UK, Canada, Brazil and Morocco sold significantly more aggregates. The Group companies in Canada, India and Vietnam achieved marked increases in sales of ready-mix concrete. Primarily as a result of acquisitions, consolidated net sales increased by 8.1 percent to CHF 10.9 billion, and operating EBITDA rose by 9.3 percent to CHF 2.3 billion. The biggest contributions to the result came from the mature markets in Australia and North America and from Group region Africa Middle East – supported by stringent cost management throughout the Group. Due to intensified competition in some markets, price pressure increased. Nevertheless, the margin improved slightly to 21.5 percent, and internal operating EBITDA growth reached 2 percent. Cash flow from operating activities increased by 12.5 percent to CHF 906 million. Net income declined 22.4 percent to CHF 611 million, and the share attributable to shareholders of Holcim Ltd decreased by 37.2 percent to CHF 331 million. The lower earnings reflect the non-recurring cash-neutral tax charge of CHF 186 million recorded in the first quarter of 2010 in connection with the restructuring of the Group's interests in North America. write your comments about the article :: © 2010 Construction News :: home page |