Summary of Group region performance

Consolidated cement volumes in Europe were down 4.7 percent to 42.1 million tonnes, primarily driven by declines in Russia, Azerbaijan, and France. Aggregates shipments totalled 123.0 million tonnes in the year under review, a decline of 1.1 percent, as improvements in several countries could not fully offset declines in France, Switzerland, and Poland. Meanwhile, ready-mix concrete deliveries were up by 0.9 percent to 18.7 million cubic meters. Adjusted for currency effects, net sales declined by 2.4 percent to CHF 7,356 million and operating EBITDA was down 17.6 percent for the year to CHF 1,089 million, largely driven by depressed performance in France, Switzerland, Germany, and Azerbaijan. Adjusted for merger, restructuring and other one-offs, operating EBITDA at constant exchange rates declined 8.7 percent.

Europe – Pro forma information

 

 

2015

2014

±%

±% like-for-like

1

Excluding merger, restructuring and other one-offs.

Sales of cement

million t

42.1

44.2

–4.7

–4.7

Sales of aggregates

million t

123.0

124.4

–1.1

–1.1

Sales of ready-mix concrete

million m3

18.7

18.5

0.9

0.9

Net sales

million CHF

7,356

8,367

–12.1

–2.4

Operating EBITDA

million CHF

1,089

1,455

–25.2

–17.6

Operating EBITDA adjusted1

million CHF

1,264

1,537

–17.8

–8.7

Operating EBITDA margin

%

14.8

17.4

 

 

Operating EBITDA margin adjusted1

%

17.2

18.4