LafargeHolcim posts 8% drop in 1H net profit

LafargeHolcim Maroc reported a turnover of MAD3.69m (US$378m) in the first half of 2024, representing a 10.6 per cent decline when compared with the year-ago period. The decrease has been attributed to the commissioning of new cement capacity in Morocco as well as the drop in clinker export demand.

Current operating income for the six-month period remained largely stable at MAD1.46bn when compared with the equivalent period of the previous year (MAD1.468bn) as the company reduced production costs and improved industrial performance.

The company's consolidated net income fell 8.4 per cent YoY to MAD756m in the 1H24 from MAD826m in the 1H23.

Return on invested capital stood at 9.7 per cent.

Outlook
LafargeHolcim Maroc expects a positive demand trend in the market due the expected positive impacts of projects relating to the 2025 Africa Cup of Nations and the 2030 World Cup
and the implementation of the direct housing assistance programme. The company will remain
focussed on optimising its costs, strengthening its quality of service and will continue to implement its sustainable development programme by expanding the range of low-carbon products, improving energy efficiency, developing biodiversity in quarries and optimising water consumption at industrial sites, said the company in a statement.