Switzerland: LafargeHolcim’s net sales have fallen by 7.5% year-on-year to Euro18.9bn in the first nine months of 2016, from Euro20.4bn in the same period of 2015. However, on a like-for-like basis it said its net sales fell by 1.8%. Cement sales volumes fell by 6.4% to 177Mt from 189Mt. Its adjusted operating earnings before interest, taxation, depreciation and amortisation (EBIDTA) fell by 3.3% to Euro3.9bn from Euro4.03bn. No direct comment was made on the nine-months results but Nigeria was blamed for significantly affecting earnings and ‘challenging’ markets were also reported in Brazil, Indonesia and Malaysia.

“These results demonstrate the strength of our balanced portfolio with solid contributions from both mature and emerging countries across our regions. As we anticipated, challenging conditions in Nigeria continued to impact our earnings, but we started to see the positive effects of higher prices and of our actions to diversify our fuel mix towards the end of the quarter,” said Eric Olsen, CEO.

Cement sales volumes have fallen in most of the group’s operating regions. Although on a like-for-like basis modest rises were reported in Asia Pacific, Middle East and Africa and North America. In Nigeria the company has taken steps towards greater fuel flexibility following gas supply interruptions earlier in 2016 but production levels only recovered at the end of the third quarter in the year.