March 17, 2016/LafargeHolcim
Eric Olsen, CEO of LafargeHolcim, said: “In a challenging environment in selected markets, we have exceeded all our 2015 commitments in terms of capex, synergies, and net debt reduction. Our focus on cash flow delivered solid results in Q4. We have also made significant progress on our divestment plan, while accelerating the pace of integration across the group and cost management actions.
“Many of the key elements of the merger are now behind us. Our organization is in place; synergies will continue to gain momentum in 2016 with notably more than CHF 450 million of incremental EBITDA synergies expected for this year; and we have taken decisive actions to further adjust and streamline our costs, notably in the most difficult markets.
“Overall, we see demand in our markets growing 2-4 percent during 2016. Emerging markets will continue to grow overall, supported by their strong long-term fundamentals and despite the challenging evolution in some of these markets. Given our footprint, we are well placed to benefit from the dynamic conditions in many of our key markets.
“We expect to see the combined effect of synergies, additional cost reductions and a strengthening pricing environment driving solid progress towards our 2018 objectives. Free cash flow generation is the key measure of our value creation strategy. With strict capital allocation discipline and the maximization of our cash flow, we are committed to maintaining solid investment grade rating and returning cash to shareholders.”
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