Holcim : Decent start to the year
>Q1 EBIT 3% above the consensus - EBIT came to CHF 532m (+16.3% l-f-l and -8.3% reported), beating the consensus (CHF 515m) and our estimate (CHF 491m est.). The level of growth in local currencies came to 17.1%, broadly in line with Q4 (18.3%,) driven by a contribution from acquisitions of 3.4% in Q1. Relative to our estimates, EBIT exceeded our expectations in all divisions except Solution & Products (-4% vs our estimates), and was higher in North America (+12% vs o...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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