Strong sales growth and increase of net income in 2018

摘要

Net sales grew 5.1% on a like-for-like basis for the full year, largely driven by higher cement volumes. Net sales reached CHF 27466 million. 2018 reported net income amounted to CHF 1719 million. Recurring EBITDA reached CHF 6016 million, up 3.6% LFL for the full year, with cement, aggregates and ready-mix concrete segments all contributing to the solid outcome. Free cash flow stood at CHF 1703 million versus CHF 1685 million in the previous year. Net debt amounted to CHF 13518 million at year-end, an improvement of CHF 828 million over the prior year, reflecting the cash conversion of 28.3 % and a positive impact following the classification of Indonesia's local external net debt as held-for-sale. The global roll out of the new Strategy 2022 - "Building for Growth" has been successfully started. Strong progress was made in all four drivers of the strategy delivering results ahead of plan. Switching gears to growth is the most fundamental principle of Strategy 2022. First results have been achieved and the growth momentum accelerated throughout the year with a strong sales increase of 5.1% LFL. All four business segments were contributing to this growth. Four bolt-on acquisitions were completed in 2018 in Europe and North America which drove growth and added to the company's presence in ready-mix concrete and aggregates. These acquisitions had immediate impact on profitability. Four more bolt-on acquisitions were signed in 2019 in Europe, Australia and North America.