In the fourth quarter of 2011, Holcim charges extraordinary cash-neutral impairments of CHF 775 million against net income after tax.
- Financial restructuring agreement relating to AfriSam (South Africa) leads to an impairment charge.
- Weak demand for construction materials and insufficient production capacity utilization rates in Spain, parts of Eastern Europe, and the US prompt impairment charges.
- Payout potential for the 2011 financial year remains unchanged.
New Member of the Senior Management of Holcim Ltd
Onne van der Weijde, currently CEO of Ambuja Cements Ltd, has been appointed Area Manager and a member of the senior management of Holcim Ltd as per January 1, 2012. He remains CEO of Ambuja Cements Ltd and reports directly to Executive Committee member Paul Hugentobler, responsible for South Asia /ASEAN excluding the Philippines.
Statement regarding Brazil
Holcim hereby informs that it is aware of the report issued by the Secretariat of Economic Law of the Ministry of Justice (SDE), regarding the administrative proceeding which seeks to evaluate the conduct of cement producers including Holcim (Brasil) S.A. in Brazil. The Company clarifies that, in...
Fund to promote energy efficiency
Holcim sets aside some CHF 100 million every year to further improve energy efficiency in the Group. In 2010, a fund was set up for this purpose. The fund is an element in the Group's comprehensive energy strategy and is financed by the proceeds from the sale of excess CO2 emissions certificates. Projects for electricity generation by means of waste heat recovery, wind power and alternative fuels as replacement of fossil heat carriers have already been approved. With these projects alone, Holcim will save around 200,000 tonnes of CO2 annually which is approximately as much as the annual CO2-emissions of a small town with 30,000 inhabitants.
Media release on third quarter 2011
- Better results in third quarter and organic growth in four of the five Group regions
- Higher sales volumes in cement, aggregates and ready-mix concrete over nine months and in the third quarter
- Latin America and Asia/Pacific on growth path
- Europe and North America lack key stimuli
- As of end of September, operating EBITDA impacted by CHF 458 million, due to the strong Swiss franc
- Declining operating EBITDA as per end of September due to cost increases which could not yet be passed on completely to sales prices
- For the current financial year, Holcim expects a like-for-like operating EBITDA that will be close to last year’s level
