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Holcim sees stable demand in Europe after flat profit
May, 10 2012
(UK) -- Building materials company Holcim Ltd Wednesday said it expected rising demand in emerging markets during 2012 and a slight improvement in North America and stable demand in Europe as it reported flat first quarter profit.
MAIN POINTS:
-1Q net profit CHF10 million versus CHF10 million in 2011
-1Q revenue CHF4.76 billion versus CHF4.66billion in 2011
-Outlook: Holcim said expects demand for building materials to rise in emerging markets in Asia and Latin America, as well as in Russia and Azerbaijan in 2012.
- The company also said a slight improvement for North America can also be expected, while demand should remain stable in Europe.
- Holcim expects that the Group will achieve organic growth at operating EBITDA level.
- Six analysts polled by Dow Jones Newswires on average forecast a net profit of CHF38 million.
- Six analysts polled by Dow Jones Newswires on average forecast revenue of CHF4.72 billion.
- Rival cement company Lafarge SA earlier this month reported a 5% rise in revenue, although its net loss increased to EUR44 million from EUR29 million as a result of restructuring costs. German cement maker HeidelbergCement AG reported a 77% decline in operating profit, while its net loss widened to EUR204 million from EUR161 million in 2011.
- Holcim shares closed Tuesday at CHF55.1, valuing the company at CHF18.02 billion. The company's stock has risen 9.7% since the start of the year.
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