LafargeHolcim : A good Q4 and 2021 supported by infrastructure plans
>Q4 EBIT 7% above the consensus - Q4 2020 EBIT came in at CHF 1,037m (+14% like-for-like), beating the consensus (CHF 972m) and our expectations (CHF 954m). Compared with our estimates, EBIT was higher in all geographies, especially Latin America (+27.5%) and Europe (+11.5%). Over the year as a whole, EBIT totalled CHF 3,676m (-10.4% as reported and -1.9% like for like).Net debt stands at CHF 8,483bn below the consensus of CHF 8,659bn. Very good FCF of CHF 3,249m...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.
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.
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