LafargeHolcim 1Q Ebitda Below, Says All 2016 Targets on Track
(Bloomberg) -- LafargeHolcim says 1Q revenue +0.1% to CHF6.1b vs CHF6.23b estimate, LFL growth stable y/y.
- 1Q adj. op. Ebitda -21.5% y/y to CHF824m vs Bloomberg Ebitda est. CHF942m, says Ebitda impacted by seasonality, positive items in 1Q15 and pricing in some markets
- Says all 2016 targets on track, FY adjusted operating Ebitda of at least high single digit LFL growth expected
- CEO says knows has more to do to increase momentum in 2016, 1Q not indicative of FY performance
- Says on track with plan, sees favorable underlying trends
- Says also well advanced with divestment program
- NOTE: Co. said in March expected market growth of 2%-4% in 2016, saw incremental synergies of more than CHF450m of operating Ebitda; saw 2016 as year of progress towards 2018 targets
Link to Statement:Link
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