HALISTER: LafargeHolcim Top Investor Calls Franc Impact ‘Devastating’: NZZ

LafargeHolcim Top Investor Calls Franc Impact ‘Devastating’: NZZ

(Bloomberg) -- Thomas Schmidheiny, who owns 11.4% of recently merged cement maker, tells NZZ am Sonntag co. profit target only achievable if one deducts currencies from equation.
  • Co. needs to earn 30% more profit in local currencies to achieve same result in Swiss francs
  • LafargeHolcim CEO has Ebitda profit target of CHF8bln by 2018, co. has market cap of CHF25.5bln
  • Given weak economic outlook, cement maker should not open any new factories or do takeovers for the moment
  • All cement makers with exception of Dangote loaded down w/ goodwill from past acquisitions
  • NOTE: Schmidheiny is biggest shareholder, according to Bloomberg data
  • NOTE May 12: LafargeHolcim CEO Defends Record to Investors as Shares Fall
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
LHN VX (LafargeHolcim Ltd)

People
Thomas Schmidheiny (Spectrum Value Mgmt Ltd)

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