Switzerland: Holcim has reported Euro363m loss for its fourth quarter of 2011 after being hit by a Euro643m impairment charge on its assets in South Africa and Europe. It said that it expects organic growth in operating earnings before interest, tax, depreciation and amortisation (EBITDA) in 2012. For 2011 as a whole, Holcim reported higher sales volumes for cement, aggregates and ready-mix concrete, although its consolidated net sales decreased by 4.2% (7.5% increase like-for-like). Its operating EBITDA decreased by 12.3% (down 0.2% like-for-like). Its net income fell to Euro565m.
Holcim said that it expects demand for building material to rise in emerging markets in Latin America and Asia, as well as in Russia and Azerbaijan in 2012. It also expects a slight improvement for North America. In Europe, Hocim believes that demand will remain stable, provided that the situation is not undermined by further systemic shocks in the Eurozone. "Holcim expects that the group will achieve organic growth in terms of operating EBITDA," the company said in its quarterly report.
