Zurich — LafargeHolcim, the global cement giant that made an unsuccessful bid for SA’s PPC in 2017, has reported a 13% fall in first-quarter earnings. The world’s largest cement maker, which has embarked on a new strategy under new CEO Jan Jenisch, said recurring earnings before interest, tax, depreciation and amortisation (ebitda) fell to Sf700m ($697.70m) from Sf808m a year earlier. When adjusted for currency effects and the asset sales, the decline was 7.7%. Revenue was flat at Sf5.83bn, said Swiss-based LafargeHolcim, which changed its reporting practices and no longer publishes net profit for its first quarter. When divestments of cement plants were taken into account, sales rose 3.1%, the company said. Its results were hit by the "especially harsh winter" in North America and Europe where sales fell, the company said. Still, LafargeHolcim confirmed its targets for 2018, which included sales growth of 3%-5% and an increase in recurring ebitda of at least 5%. "I am very confiden...
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