(RTTNews) - Cement giant LafargeHolcim (HCMLY.PK, HCMLF.PK) reported Friday that its first-quarter recurring EBIT surged 101.7 percent to 528 million Swiss francs from last year's 262 million francs. On a like-for-like basis, recurring EBIT climbed 130.7 percent. All regions showed significant increase in Recurring EBIT margin.
Sales for the quarter edged up 1.3 percent to 5.36 billion francs from 5.29 billion francs last year. LFL sales grew 7.4 percent.
Cement volumes grew 5.5 percent from last year to 47.3 million tonnes, and Ready-Mix Concrete volumes increased 2.7 percent, while Aggregates volumes decreased 1.1 percent.
Looking ahead, LafargeHolcim said it expects to achieve all Strategy 2022 targets one year in advance, delivering net sales growth of 3 percent-5 percent, and over-proportional growth in Recurring EBIT of at least 10 percent, both on LFL basis.
LafargeHolcim expects positive demand trends in all regions, to be accelerated as of second half of fiscal 2021 from various stimulus programs.
The company expects to develop the Firestone Building Products business in 2021, to accelerate bolt-on acquisitions and to continue to progress on its 2030 sustainability targets.
The company added that it plans to publish its first Climate Transition report in 2022 and to submit it for shareholder approval at the 2022 Annual General Meeting.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
