Summary of Group region performance

Consolidated cement volumes in Latin America decreased 1.2 percent and amounted to 27.9 million tonnes, as the dynamic markets in Mexico, Argentina, Colombia, and El Salvador did not fully compensate for the losses in Brazil and Ecuador. Aggregates shipments were down 25.7 percent to 7.9 million tonnes, due to the closure of underperforming quarries in Mexico and the shift to more profitable segments. Volumes in ready-mix concrete decreased 6.7 percent in the full year to 7.3 million cubic meters. At constant exchange rates, net sales in the region increased by 2.8 percent in 2015 to CHF 3,241 million, driven by better performance in Mexico, Argentina, and Colombia, while operating EBITDA decreased 2.4 percent to CHF 876 million, mainly driven by declines in Brazil. Adjusted for merger, restructuring and other one-offs, operating EBITDA at constant exchange rates was stable.

Latin America – Pro forma information

 

 

2015

2014

±%

±% like-for-like

1

Excluding merger, restructuring and other one-offs

Sales of cement

million t

27.9

28.2

–1.2

–1.2

Sales of aggregates

million t

7.9

10.6

–25.7

–25.7

Sales of ready-mix concrete

million m3

7.3

7.8

–6.7

–6.7

Net sales

million CHF

3,241

3,540

–8.4

2.8

Operating EBITDA

million CHF

876

949

–7.7

–2.4

Operating EBITDA adjusted1

million CHF

907

964

–5.9

0.1

Operating EBITDA margin

%

27.0

26.8

 

 

Operating EBITDA margin adjusted1

%

28.0

27.2