Report
Sven Edelfelt

LafargeHolcim : A scrip dividend, a first!

>Q4 2018 EBITDA in line with the consensus (~1.1%) - EBITDA came in at CHF 1.665bn (+6.5% l-f-l), in line with the consensus (CHF 1.674bn) and ahead of our estimate of 2.7% (CHF 1.621bn). Relative to our estimates, EBITDA was lower in Asia-Pacific (-3%) and North America (-6%). North America was in line with our estimates. In contrast, Europe and LatAm came in higher, by 5% and +3% respectively. Huaxin contributed CHF 107m to EBITDA, identical to Q3, i.e. CHF 40m more...
Underlying
HOLCIM AG

LafargeHolcim is a producer of cement and aggregates. Co. also supplies ready-mix concrete, concrete products, asphalt and a range of services. Co. operates through three segments: cement, aggregates, and other construction materials and services. Co.'s cement segment provides a range of cementitious materials and also develops customized blends for special applications. Through its aggregates segment, Co. produces aggregates which include crushed stone, gravel and sand mainly used in the manufacture of ready-mix concrete, concrete products and asphalt, as well as for road building and railway tracks, with production centered on quarrying, preparing and sorting the raw material.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Sven Edelfelt

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