Overall, the company sold more cement, aggregates and ready-mix concrete, increasing net sales. Its operating EBITDA was equal to the previous year but cash-neutral impairments reduced net income.
The aggregate and cement sales increases were strongest in Latin America and the Asia Pacific region.
Construction activity remained subdued in Australia and there was a lack of major concrete-intensive projects.
Holcim?s Cement Australia sold slightly less cement due to declining residential construction and the floods on the east coast and sold more aggregates as reconstruction work got underway. Ready-mix concrete sales only just matched the previous year?s level.
Construction activity fell in New Zealand and so Holcim fell short of the previous year?s figures across all segments. Construction work in Christchurch following the earthquake disaster in February 2010 is not expected to have an effect on the sector until later in 2012. The earthquake and weak demand hit deliveries of building materials.
The company said that the outlook for markets in Europe, Africa and the Middle East remain unchanged while North America, Latin America and the Asia Pacific markets were all expected to increase in the next financial year.
Source: Holcim