LafargeHolcim Calls North American Performance ‘Remarkable’

LafargeHolcim reported half-year sales of CHF$10.7 million versus CHF$13 million during the same period in 2019. North American sales of aggregates reached 45.2 million metric tons (Mt) in the first half of 2020 versus 45.7 Mt in the first half of 2019, a decline of 1.1%. Cement sales were off slightly while ready mixed sales were up.

The company stated that “the North America region delivered a remarkable performance with a Recurring EBIT up 20% for the first half of 2020 over the prior-year period on a like-for-like basis. This leading performance amid COVID-19 was largely due to fast and effective cost management in the United States, partly offset by the impact of lockdowns in Eastern Canada and the economic challenges facing Western Canada due to a slowdown in the oil and gas Industry.”

Jan Jenisch, CEO: “I’m very proud of our teams’ rapid and agile response to the crisis since the beginning of January. We were quick to respond and take all necessary measures to protect the health of our people while supporting our communities, from donating materials to build emergency field hospitals all the way to supplying essential goods, touching the lives of over four million people around the world.

“Our half-year results demonstrate the great resilience of our business. I’m encouraged by our team’s agility to weather the storm with the rapid execution of our ‘HEALTH, COST & CASH’ action plan, effectively driving cost savings ahead of expectations, improving net working capital and delivering record free cash flow.

“The peak of the crisis is behind us. We expect a solid second half of the year based on June’s full recovery, the trend of our order book and upcoming government stimulus packages.

“As an essential sector to keep society running, we look forward to playing our part in driving the recovery. We are accelerating our sustainability efforts to ensure our green solutions are fully part of the recovery. I am confident LafargeHolcim will emerge stronger from this crisis.”

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