Holcim net sales fall 5.4% in Q1 2014 due to negative currency effects
Holcim announced Monday that its net sales were down 5.4 percent in the first quarter of 2014, while like for like sales rose 7.8 percent.
The company said it reached CHF 4.09 billion (about $4.64 billion) in net sales in the first quarter of 2014, a 5.4-percent decline from the first quarter of 2013. The company says the decrease was “mainly influenced by negative currency effects.” Despite the decline, its net sales on a like-for-like basis were up 7.8 percent.
Consolidated operating EBITDA fell 5.1 percent to CHF 617 million (about $700.58 million) in the first three months of 2014. When adjusted for foreign exchange effects and changes in consolidation, the company’s consolidated operating EBITDA was up 10.1 percent.
The Holcim Leadership Journey contributed CHF 237 million (about $269.10 million) to operating profit in the first quarter of 2014.
The company’s net income was down 39.5 percent in the first quarter of 2014, falling to CHF 179 million (about $203.25 million). Holcim notes that net income the the first quarter of 2013 was boosted by the sale of a 25-percent stake in Cement Australia, and when adjusting for the transaction, net income rose 19.6 percent in the first quarter of 2014.
Net income attributable to shareholders was down 57.5 percent to CHF 80 million (about $90.84 million).
Cash flow from operating activities was up 24.9 percent, reaching CHF 243 million (about $275.92 million) in the first quarter of 2014.
Holcim also noted its intention to merge with Lafarge. To read more about this “merger of equals, click here.