- Strong momentum in
Q4 with net sales +1.5% LFL and Recurring EBIT +14.1% LFL
- Fast and
disciplined execution of “HEALTH, COST & CASH” action
plan
- Record 2020 Free
Cash Flow generation of CHF 3,249m
- Strong balance
sheet with Net Debt leverage improved to 1.4x
- A milestone in the
transformation of LafargeHolcim with the acquisition of Firestone
Building Products
- At the forefront
of sustainability with CDP Climate A List ranking
- Good demand
momentum in 2021
Regulatory News:
LafargeHolcim (Paris:LHN):
PERFORMANCE OVERVIEW
Group Q4
2020
2019
±%
±% LfL
Net sales (CHFm)
5,994
6,521
-8.1
+1.5
Recurring EBIT (CHFm)
1,037
1,017
+1.9
+14.1
Recurring EBIT margin (%)
17.3
15.6
Group Full Year
2020
2019
±%
±% LfL
Net sales (CHFm)
23,142
26,722
-13.4
-5.6
Recurring EBIT (CHFm)
3,676
4,102
-10.4
-1.9
Recurring EBIT margin (%)
15.9
15.4
Net income, Group share (CHFm)
1,697
2,246
-24.5
Net Income before impairment &
divestments1 (CHFm)
1,900
2,055
-7.5
EPS (CHF)
2.74
3.69
-25.6
EPS before impairment & divestments
(CHF)
3.07
3.37
-8.7
Free Cash Flow after leases (CHFm)
3,249
3,019
+7.6
Net financial debt (CHFm)
8,483
10,110
-16.1
Jan Jenisch, CEO: “2020 was an unprecedented year for everyone,
challenging us to be more resilient, while stepping up to take care
of those around us. I sincerely thank everyone within LafargeHolcim
for their strong contributions, enabling us to navigate these
difficult times. I’m extremely proud of how our teams mobilized to
keep our people and operations safe, while going above and beyond
to stand by our communities. Together we touched the lives of over
six million people around the world this year.
“This crisis has really proven the resilience of our strategy
and business model. By Q4 we were back to growth, with a 1.5%
increase in net sales and over-proportional Recurring EBIT of
14.1%. We are emerging stronger from the crisis, reaching a new
level of financial performance this year. We delivered a record
free cash flow of CHF 3.2 billion and reduced our net debt by CHF
1.6 billion. Staying focused on our growth agenda, we completed
eight bolt-ons in 2020 and signed an agreement to acquire Firestone
Building Products, the iconic leader in flat-roofing systems in the
US.
“We accelerated our climate action, from our net zero pledge to
the global launch of our ECOPact green concrete, all the way to
making it into CDP’s A list for climate. Every ton of cement we
produced in 2020 was more carbon-efficient and contained more
recycled material than the year before.
“We are going into 2021 with strong momentum. We expect further
demand in H2 2021 from a broad range of stimulus programs. We are
firmly on track to become the global leader in innovative and
sustainable building materials and solutions.”
STRONG FINISH TO THE YEAR AND RECORD FREE CASH FLOW2
Net sales of CHF 23,142 million were -5.6% on a
like-for-like basis (LFL) compared to the prior year and -13.4% on
a reported basis. The like-for-like decline mainly results from the
pandemic-related disruption, mostly in H1, before returning to
prior-year levels in H2. In the context of the global crisis, all
currencies depreciated against the Swiss Franc, which generated a
negative translation effect of -7.4%.
Recurring EBIT reached CHF 3,676 million, -10.4% in total
and -1.9% LFL for the full year, with a largely ‘V-shaped’ recovery
across all regions delivering a Q4 improvement of 14.1% LFL
compared to the prior-year period.
Net Income3 was CHF 1,900 million, 7.5% lower than in
2019 reflecting the above-mentioned Recurring EBIT decline, partly
offset by the reduction of restructuring, litigation and other
non-recurring costs, along with the continuous improvement of the
financial expenses and income tax rate.
Earnings per share4 were down by 8.7% to reach CHF 3.07
for the full year 2020 versus CHF 3.37 for 2019.
Free Cash Flow after leases was at CHF 3,249 million
versus CHF 3,019 million in 2019, up 7.6%, reflecting the success
of the “HEALTH, COST & CASH” action plan.
Net debt amounted to CHF 8.5 billion at year-end 2020, a
reduction of CHF 1.6 billion compared to the prior year. The ratio
of net debt to Recurring EBITDA now stands at 1.4, over-delivering
on the 2022 target.
Return on Invested Capital was 7.4% in 2020, equivalent
to the previous year, as the company remains on track to achieve
its 2022 target of above 8.0%5.
___________________________
1 Group share 2 After leases 3 before impairment &
divestments, Group share 4 before impairment & divestments 5 at
constant scope
FAST EXECUTION OF “HEALTH, COST &
CASH” ACTION PLAN
Through agile and effective crisis management, the company’s
action plan “HEALTH, COST & CASH,” launched in March 2020, has
successfully safeguarded the health and safety of its people,
partners and communities, while mitigating the financial impact of
the COVID-19 pandemic. Fixed costs were reduced by CHF 385 million
on a like-for-like basis compared to 2019, far surpassing the
initial target of CHF 300 million for the full year. In addition,
the reduction in energy prices has led to savings of CHF 125
million on a like-for-like basis compared to 2019. CAPEX was CHF
370 million lower, at CHF 1.0 billion, while working capital was
reduced by 11 days on sales. These efforts were pivotal in
generating our record free cash flow after leases of CHF 3.2
billion and Recurring EBIT margin improvement across all regions
for 2020.
GOOD PROGRESS ON SUSTAINABILITY
TARGETS
LafargeHolcim accelerated its climate action this year with the
launch of its net zero pledge, as a signatory of the “Business
Ambition for 1.5°C.” The company set for itself the most ambitious
climate targets of its industry, validated by the Science-Based
Targets initiative (SBTi) to reach net carbon emissions of 475
kilograms of CO2 per ton of cementitious materials (kg net CO2/per
ton) by 2030. Making progress on its net zero journey,
LafargeHolcim delivered a record-low level of 555 kg net CO2/per
ton this year. In addition, LafargeHolcim is partnering with SBTi
to set the first net zero cement roadmap in its industry. At the
forefront of sustainable building solutions, the company rolled-out
its green concrete ECOPact globally, now in 14 countries, offering
concrete with lower CO2 emissions and recycled content. This was
followed by the global launch of the company’s EcoLabel to
transparently disclose the environmental profile of its green
products, applying to all cement and concrete with at least 30%
lower CO2 footprint or 20% recycled content. The company issued the
building materials industry’s first sustainability-linked bond,
bringing its total ESG-linked funding agreements close to CHF 6
billion, and was recognized as a climate leader by CDP, entering
its prestigious ‘A list’ for Climate.
MILESTONE ACQUISITION OF FIRESTONE
BUILDING PRODUCTS
In January 2021, LafargeHolcim signed an agreement to acquire
Firestone Building Products (FSBP). FSBP is a leader in commercial
roofing and building envelope solutions based in the United States
(US). Its 2020 net sales and EBITDA were even higher than the
estimates provided in January (USD 1.8 billion and USD 270 million,
respectively). The deal is now expected to close earlier than
planned, with a very good outlook in 2021 based on encouraging
January trends. In addition, this acquisition positions the company
strongly to benefit from the expected USD 2 trillion “Build Back
Better” plan. This transaction is valued at USD 3.4 billion and
will be financed with cash and debt while maintaining debt leverage
below 2x. This acquisition is a milestone in LafargeHolcim’s
transformation to become the global leader in innovative and
sustainable building solutions.
CHANGES IN THE EXECUTIVE
COMMITTEE
Building on the Firestone transaction, the Board of Directors
has decided to create a new position at the Group Executive
Committee level to lead the Solutions & Products Global
Business Unit. Jamie Gentoso, currently Chief Executive Officer of
US Cement, has been appointed to lead this business effective March
1st 2021. Ms. Gentoso brings an outstanding track record in
business development and driving growth. The new role will align
the vision to develop the fourth business segment Solutions &
Products into a strong driver of growth and sustainability for the
company.
To further improve the company’s simplicity and efficiency, the
Board of Directors has decided to integrate the regions Europe and
Middle East Africa (MEA) into one new region: Europe, Middle East
and Africa (EMEA). Miljan Gutovic, the current Head of Region MEA
is appointed to take over the responsibility of the broader Region
EMEA, effective March 1st 2021. Marcel Cobuz has decided to leave
LafargeHolcim to pursue new opportunities outside the company. He
leaves a strong legacy of business growth throughout his twenty
year career, taking on increasing responsibilities across Europe,
the Middle East Africa and Asia and played an instrumental role in
the merger of Lafarge and Holcim.
The company’s profit & loss responsibility is now assigned
to the five leaders of Region EMEA, Region North America, Region
Latin America, Region Asia Pacific and the Solutions & Products
Global Business Unit.
OUTLOOK 2021
LafargeHolcim expects good demand momentum in 2021, with
positive trends in all regions. Extra demand is expected in H2 2021
from stimulus programs, as governments announce measures to support
the economic recovery with a focus on infrastructure. LafargeHolcim
is ready to support these programs around the world, from the CHF 2
trillion ‘Build Back Better’ plan in the US, to the nearly CHF 2
trillion expected from India’s ‘National Infrastructure Pipeline’
plan, and the UK’s CHF 800 billion infrastructure plan.
The company aspires to globalize the Firestone Building Products
business in 2021, to accelerate bolt-on acquisitions and to
continue to progress on its 2030 sustainability targets.
LafargeHolcim further expects:
- Recurring EBIT growth of at least 7% LFL in line with Strategy
2022
- Cash conversion of above 40% and debt leverage below 2x
- Capex less than CHF 1.4bn
For the 2020 financial year, the Board of Directors is proposing
a dividend from the foreign capital contribution reserve in the
amount of CHF 2.00 per registered share, subject to approval by the
shareholders at the Annual General Meeting on 4 May 2021.
KEY GROUP FIGURES
2020
Group Q4
2020
2019
±%
±% LfL
Net sales (CHFm)
5,994
6,521
-8.1
+1.5
Recurring EBIT (CHFm)
1,037
1,017
+1.9
+14.1
Recurring EBIT margin (%)
17.3
15.6
Group Full Year
2020
2019
±%
±% LfL
Net sales (CHFm)
23,142
26,722
-13.4
-5.6
Recurring EBIT (CHFm)
3,676
4,102
-10.4
-1.9
Recurring EBIT margin (%)
15.9
15.4
Net income, Group share (CHFm)
1,697
2,246
-24.5
Net Income before impairment &
divestments, Group share (CHFm)
1,900
2,055
-7.5
EPS before impairment & divestments
(CHF)
3.07
3.37
-8.7
Cash flow from operating activities
(CHFm)
4,618
4,825
-4.3
Free Cash Flow after leases (CHFm)
3,249
3,019
+7.6
Net financial debt (CHFm)
8,483
10,110
-16.1
Group Results by Segment Q4
2020
2019
±%
±% LfL
Sales of cement (mt)
51.2
51.5
-0.5
-0.3
Sales of aggregates (mt)
65.8
67.5
-2.5
-3.8
Sales of ready-mix concrete (M m3)
11.3
11.6
-2.4
-2.4
Group Results by Segment Full
Year
2020
2019
±%
±% LfL
Sales of Cement (mt)
190.4
207.9
-8.4
-6.9
Net sales of Cement (CHFm)
15,043
17,498
-14.0
-4.7
Recurring EBIT of Cement (CHFm)
3,112
3,273
-4.9
+5.0
Recurring EBIT margin of Cement (%)
20.7
18.7
Sales of Aggregates (mt)
256.3
269.9
-5.0
-5.4
Net sales of Aggregates (CHFm)
3,713
4,125
-10.0
-5.4
Recurring EBIT of Aggregates (CHFm)
432
560
-22.8
-19.7
Recurring EBIT margin of Aggregates
(%)
11.6
13.6
Sales of Ready-Mix Concrete (M m3)
42.3
47.7
-11.3
-9.9
Net sales of Ready-Mix Concrete (CHFm)
4,610
5,289
-12.8
-6.7
Recurring EBIT of Ready-Mix Concrete
(CHFm)
32
111
-71.4
-71.8
Recurring EBIT margin of Ready-Mix
Concrete (%)
0.7
2.1
Net sales of Solutions & Products
(CHFm)
1,893
2,248
-15.8
-12.2
Recurring EBIT of Solutions & Products
(CHFm)
100
158
-36.8
-34.7
Recurring EBIT margin of Solutions &
Products (%)
5.3
7.0
REGIONAL PERFORMANCE
Asia Pacific
The Asia Pacific region experienced a good rebound in H2, with
strong volume recovery in India, especially in branded cement
sales, and strong Recurring EBIT margin expansion. Demand in China
in H2 was also well above 2019 levels, partly offset by softer
markets in the Philippines and Australia.
Asia Pacific Q4
2020
2019
±%
±% LfL
Net sales to external customers (CHFm)
1,489
1,613
-7.7
+0.7
Recurring EBIT (CHFm)
349
358
-2.4
+4.8
Asia Pacific Full Year
2020
2019
±%
±% LfL
Sales of cement (mt)
63.0
73.5
-14.3
-10.0
Sales of aggregates (mt)
28.1
27.3
+3.0
0.0
Sales of ready-mix concrete (M m3)
7.4
9.6
-22.8
-14.7
Net sales to external customers (CHFm)
5,243
6,491
-19.2
-9.1
Recurring EBIT (CHFm)
1,103
1,364
-19.1
-12.1
Recurring EBIT margin (%)
21.0
21.0
Europe
The Europe region was back to growth by Q4, with volumes
approaching 2019 levels. Pricing trends were strong overall though
demand recovery was mixed, with Western European countries
rebounding most strongly, Central Europe largely resilient and a
comparatively softer performance from Eastern European markets. The
UK was more heavily impacted by strict lockdown measures as well as
Brexit.
Europe Q4
2020
2019
±%
±% LfL
Net sales to external customers (CHFm)
1,796
1,834
-2.1
+1.9
Recurring EBIT (CHFm)
242
223
+8.6
+13.2
Europe Full Year
2020
2019
±%
±% LfL
Sales of cement (mt)
44.6
46.3
-3.7
-3.7
Sales of aggregates (mt)
111.9
118.7
-5.7
-5.7
Sales of ready-mix concrete (M m3)
18.1
19.3
-6.0
-6.3
Net sales to external customers (CHFm)
7,061
7,670
-7.9
-4.2
Recurring EBIT (CHFm)
927
990
-6.3
-2.5
Recurring EBIT margin (%)
13.0
12.7
Latin America
Latin America delivered an outstanding 2020 performance. Q4
volumes in all business segments were significantly ahead of last
year, with cement demand growth in major markets for the year.
Growth was driven by strong branded products sales in retail and
distribution channels, resulting in another quarter of outstanding
Recurring EBIT margin improvement.
Latin America Q4
2020
2019
±%
±% LfL
Net sales to external customers (CHFm)
622
647
-3.9
20.1
Recurring EBIT (CHFm)
204
173
17.7
42.1
Latin America Full Year
2020
2019
±%
±% LfL
Sales of cement (mt)
23.9
24.7
-3.0
-3.0
Sales of aggregates (mt)
4.8
4.1
17.4
17.4
Sales of ready-mix concrete (M m3)
4.0
4.9
-18.8
-18.8
Net sales to external customers (CHFm)
2,225
2,620
-15.1
2.4
Recurring EBIT (CHFm)
696
715
-2.6
13.4
Recurring EBIT margin (%)
31.0
27.2
Middle East Africa
Successful turnaround efforts are driving solid performance and
further Recurring EBIT margin improvement in the Middle East Africa
region, despite softer cement demand in most countries and COVID-19
impacts. Resilient cement volumes were supported by strong branded
products sales and good growth in Nigeria.
Middle East Africa Q4
2020
2019
±%
±% LfL
Net sales to external customers (CHFm)
569
714
-20.2
-3.2
Recurring EBIT (CHFm)
88
96
-9.3
+14.4
Middle East Africa Full Year
2020
2019
±%
±% LfL
Sales of cement (mt)
33.3
35.6
-6.4
-6.4
Sales of aggregates (mt)
3.5
6.3
-44.9
-44.9
Sales of ready-mix concrete (M m3)
2.7
3.8
-27.2
-27.2
Net sales to external customers (CHFm)
2,349
2,903
-19.1
-8.9
Recurring EBIT (CHFm)
330
390
-15.3
-4.7
Recurring EBIT margin (%)
13.8
13.3
North America
North America showed strong improvement in its Recurring EBIT
margin. Volumes recovered across all business segments in Q4 in the
region, supported by excellent execution of the “HEALTH, COST &
CASH” action plan and effective price management. This strong
performance was partially offset by a slowdown in Canada West,
which was affected by decline in the oil & gas industry.
North America Q4
2020
2019
±%
±% LfL
Net sales to external customers (CHFm)
1,392
1,557
-10.6
-2.4
Recurring EBIT (CHFm)
269
257
+4.4
+13.9
North America Full Year
2020
2019
±%
±% LfL
Sales of cement (mt)
19.8
20.8
-4.8
-4.8
Sales of aggregates (mt)
108.0
113.5
-4.9
-5.0
Sales of ready-mix concrete (M m3)
10.0
10.2
-1.3
-1.7
Net sales to external customers (CHFm)
5,749
6,311
-8.9
-3.3
Recurring EBIT (CHFm)
1,033
1,035
-0.3
+5.8
Recurring EBIT margin (%)
18.0
16.4
OTHER PROFIT & LOSS
ITEMS
Restructuring, litigation and other non-recurring costs
stood at CHF 89 million, compared to CHF 190 million in 2019 and
CHF 476 million in 2018.
Net financial expenses for 2020 totaled CHF 623 million
versus CHF 712 million in the prior year.
The income tax rate excluding impairment and divestments
was 25%, 1% lower than in 2019.
Reflecting all the above, 2020 Net income group share
amounted to CHF 1,697 million.
Excluding impairment and divestments, EPS was down
8.7% to CHF 3.07 for 2020. On a reported basis, EPS was CHF 2.74
for 2020.
Net capital expenditure for 2020 was CHF 1,026 million.
Free Cash Flow after leases stood at CHF 3,249
million, up 7.6% compared to 2019. This led to a ratio of cash
conversion, defined as Free Cash Flow after leases relative to
Recurring EBITDA after leases, of 58% in 2020.
RECONCILIATION TO GROUP
ACCOUNTS
Reconciling measures of Profit and Loss to LafargeHolcim
Group Consolidated Statement of Income
Million CHF
FY 2020
FY 2019
Net sales
23,142
26,722
Recurring operating costs
(17,974)
(21,093)
Share of profit of joint ventures
448
548
Recurring EBITDA after leases
5,616
6,177
Depreciation and amortization of property,
plant and equipment, intangible and long-term assets
(1,940)
(2,075)
Recurring EBIT
3,676
4,102
Restructuring, litigation and other
non-recurring costs
(89)
(190)
Impairment of operating assets
(215)
(80)
Operating profit
3,371
3,833
Reconciliation of Net Income before impairment and
divestments with Net Income as disclosed in Financial
Statements
Million CHF
FY 2020
FY 2019
Net income before impairment and
divestments
2,218
2,323
Net income before impairment and
divestments, Non-Controlling interests
318
268
Net income before impairment and
divestments, Group share
1,900
2,055
Impairment
(203)
(66)
Profit/(loss) on divestments
(14)
255
Net income
2,002
2,513
Adjustments disclosed net of taxation
Reconciliation of Free Cash Flow after leases to the
Consolidated Statement of Cash Flows
Million CHF
FY 2020
FY 2019
Cash flow from operating
activities
4,618
4,825
Purchase of property, plant and
equipment
(1,114)
(1,534)
Disposal of property and equipment
88
137
Repayment of long-term lease
liabilities
(342)
(409)
Free Cash Flow after leases
3,249
3,019
Reconciliation of Net financial debt to the Consolidated
Statement of financial position
Million CHF
FY 2020
FY 2019
Current financial liabilities
2,064
2,089
Long-term financial liabilities
11,710
12,202
Cash and cash equivalents
5,190
4,148
Short-term derivative assets
30
28
Long-term derivative assets
70
5
Net financial debt
8,483
10,110
NON-GAAP DEFINITIONS
Some non-GAAP measures are used in this release to help describe
the performance of LafargeHolcim. A full set of these non-GAAP
definitions can be found on our website.
Measures
Definition
Like-for-like
Factors out changes in the scope of
consolidation (such as divestments and acquisitions occurring in
2020 and 2019) and currency translation effects (2020 figures are
converted with 2019 exchange rates in order to calculate the
currency effects).
Recurring fixed costs
Recurring fixed costs refer to all
recurring costs not directly related to volumes such as
Maintenance, Personal costs in Production, Administration,
Marketing and Sales Expenses, Third party services and depreciation
of right-of-use assets. Recurring fixed costs are part of the
Recurring operating costs.
Recurring variable costs
Recurring variable costs include recurring
operating costs directly related to volumes such as raw materials
and finished goods purchases, inventory variation, energy, quarry
outsourcing and distribution costs. The addition of variable and
fixed Recurring costs equals the total Recurring operating
costs.
Recurring operating costs
It is defined as:
+/- Recurring EBITDA after leases
- net sales and
- share of profit of joint ventures
Recurring EBITDA
It is defined as:
+/– Operating profit/loss (EBIT)
- depreciation, amortization and
impairment of operating assets and
- restructuring, litigation,
implementation and other non-recurring costs
Recurring EBITDA after leases
The Recurring EBITDA after leases is
defined as Recurring EBITDA less the depreciation of right-of-use
assets.
Recurring EBIT
The Recurring EBIT is defined as Operating
profit/loss (EBIT) adjusted for restructuring, litigation and other
non-recurring costs and for impairment of operating assets.
Recurring EBIT Margin
Recurring EBIT divided by net sales
Restructuring, litigation and other
non-recurring costs
Significant items that, because of their
exceptional nature, cannot be viewed as inherent to the Group's
ongoing performance, such as strategic restructuring, major items
relating to antitrust fines and other business related litigation
cases.
Profit/loss on disposals and
non-operating items
Comprises capital gains or losses on the
sale of Group companies and of material property, plant and
equipment and other non-operating items that are not directly
related to the Group's normal operating activities such as
revaluation gains or losses on previously held equity interests,
disputes with non-controlling interests and other major
lawsuits.
Net income before impairment and
divestments
It is defines as:
+/- Net income (loss)
- gains and losses on disposals of Group
companies and
- impairments of goodwill and long-term
assets
Earnings Per Share (EPS) before
impairment and divestments
It is defined as:
Net income/loss before impairment and
divestments attributable to the shareholders of LafargeHolcim Ltd
divided by the weighted average number of shares outstanding.
The Net Maintenance and Expansion Capex
(“Capex” or “Capex Net”)
It is defined as:
+ Expenditure to increase existing or
create additional capacity to produce, distribute or provide
services for existing products (expansion) or to diversify into new
products or markets (diversification)
+ Expenditure to sustain the functional
capacity of a particular component, assembly, equipment, production
line or the whole plant, which may or may not generate a change of
the resulting cash flow
– Proceeds from sale of property, plant
and equipment
Free Cash Flow after leases
It is defined as:
+/– Cash flow from operating
activities
– Net Maintenance and expansion Capex
and
– Repayment of long-term lease
liabilities
Cash conversion
Cash conversion is defined as: Free Cash
Flow after leases divided by Recurring EBITDA after leases
Net financial debt (“Net debt”)
It is defined as:
+ Financial liabilities (short-term &
long-term) including derivative liabilities
– Cash and cash equivalents
– Derivative assets (short-term &
long-term)
Debt leverage
The Net financial debt to Recurring EBITDA
ratio is used as an indicator of financial risk and shows how many
years it would take the Group to pay back its debt.
Invested Capital
It is defined as:
+ Total shareholders’ equity
+ net financial debt
– assets classified as held for sale
+ liabilities classified as held for
sale
– current financial receivables and
– long-term financial investments and
other long-term assets
Net Operating Profit/loss After Tax
(“NOPAT”)*
It is defined as:
+/– Net Operating Profit/loss (being the
Recurring EBIT and share of profits of associates)
– Standard Taxes (being the taxes applying
the Group's tax rate to the Net Operating Profit/loss as defined
above)
ROIC (Return On Invested
Capital)
It is defined as:
Net Operating Profit/loss After Tax
(NOPAT) divided by the average Invested Capital. The average is
calculated by adding the Invested Capital at the beginning of the
period to that at the end of the period and dividing the sum by 2
(based on a rolling 12-month calculation)
Ton
Ton refers to a Metric ton, or 1,000
kg.
ADDITIONAL INFORMATION
2020 Integrated Annual Report
For its 2020 annual report, LafargeHolcim has continued to apply
the principles of Integrated Reporting. Besides the financial
results the report includes more comprehensive information on the
company’s non-financial performance and commitments, a central
component of the strategy and the principles of the company. The
Integrated Annual Report 2020 and other information on the results
is available here.
Due to restrictions caused by COVID-19, the media conference at
09:00am CET and analyst’s conference at 11:00am CET will be held
virtually.
In order to participate in the media conference or analyst’s
conference, please go to
https://www.lafargeholcim.com/fy2020events.
The financial statements based on IFRS can be found on the
LafargeHolcim Group website.
About LafargeHolcim
As the world’s global leader
in building solutions, LafargeHolcim is reinventing how the world
builds to make it greener and smarter for all. On its way to
becoming a net zero company, LafargeHolcim offers global solutions
such as ECOPact, enabling carbon-neutral construction. With its
circular business model, the company is a global leader in
recycling waste as a source of energy and raw materials through
products like Susteno, its leading circular cement. Innovation and
digitalization are at the core of the company’s strategy, with more
than half of its R&D projects dedicated to greener solutions.
LafargeHolcim’s 70,000 employees are committed to improving quality
of life across more than 70 markets through its four business
segments: Cement, Ready-Mix Concrete, Aggregates and Solutions
& Products.
More information is available on www.lafargeholcim.com
Important disclaimer - forward-looking statements:
This document contains forward-looking statements. Such
forward-looking statements do not constitute forecasts regarding
results or any other performance indicator, but rather trends or
targets, as the case may be, including with respect to plans,
initiatives, events, products, solutions and services, their
development and potential. Although LafargeHolcim believes that the
expectations reflected in such forward-looking statements are based
on reasonable assumptions as at the time of publishing this
document, investors are cautioned that these statements are not
guarantees of future performance. Actual results may differ
materially from the forward-looking statements as a result of a
number of risks and uncertainties, many of which are difficult to
predict and generally beyond the control of LafargeHolcim,
including but not limited to the risks described in the
LafargeHolcim's annual report available on its website
(www.lafargeholcim.com) and uncertainties related to the market
conditions and the implementation of our plans. Accordingly, we
caution you against relying on forward-looking statements.
LafargeHolcim does not undertake to provide updates of these
forward-looking statements.
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version on businesswire.com: https://www.businesswire.com/news/home/20210225006210/en/
Media Relations: media@lafargeholcim.com +41 (0) 58 858
87 10
Investor Relations: investor.relations@lafargeholcim.com
+41 (0) 58 858 87 87