LafargeHolcim : Excellent level of FCF!
>Q4 2019 EBITDA ahead of expectations (~2.0%) - EBITDA came to CHFÂ 1,610m (+0.1% l-f-l), beating the consensus (CHFÂ 1,584m) and our estimate (CHFÂ 1,579m est.). Relative to our estimates, EBITDA was lower in Africa (-10%). Europe was in line with our estimates. Conversely, North America, Latin America and Asia-Pacific were above our estimates, by +4%, +7% and +3%, respectively. Huaxin contributed CHFÂ 122m to EBITDA after CHFÂ 112m in Q3 despite having issued a warning....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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