Summary of Group region performance

Consolidated cement deliveries in Middle East Africa increased over the previous year by 1.0 percent to 43.4 million tonnes in the period under review, with strong performance in Egypt, Algeria, and Kenya helping to offset operations stoppage in Syria and declines in Iraq and Lebanon. Aggregates deliveries were up 5.9 percent to 11.2 million tonnes, while ready-mix concrete volumes were down 5.8 percent to 5.6 million cubic meters. At constant exchange rates, net sales increased 1.9 percent to CHF 4,536 million and operating EBITDA decreased by 7.5 percent to 1,276 million, as improved results in Algeria and Kenya partly mitigated lower performance in countries such as Zambia and Egypt. Adjusted for merger, restructuring and other one-offs, operating EBITDA at constant exchange rates declined 4.6 percent.

Middle East Africa – Pro forma information

 

 

2015

2014

±%

±% like-for-like

1

Excluding merger, restructuring and other one-offs

Sales of cement

million t

43.4

42.9

1.0

1.0

Sales of aggregates

million t

11.2

10.6

5.9

5.9

Sales of ready-mix concrete

million m3

5.6

5.9

–5.8

–5.8

Net sales

million CHF

4,536

4,969

–8.7

1.9

Operating EBITDA

million CHF

1,276

1,562

–18.3

–7.5

Operating EBITDA adjusted1

million CHF

1,362

1,611

–15.4

–4.6

Operating EBITDA margin

%

28.1

31.4

 

 

Operating EBITDA margin adjusted1

%

30.0

32.4