According to the released consolidated financial statements, HOLCIM recorded a net profit of $34.41M end of 2014 compared to $23.34M in 2013.
Gross profit margin saw a yearly increase from 30.59% to 33.66% on the back of the annual 8.33% decrease in cost of sales to $144.31M, while sales declined by 4.09% to $217.53M, over the same period. The fall in HOLCIM’s sales goes in line with the 5.38% yearly decline in cement deliveries in Lebanon to 5.52M tons by End 2014. In contrast, operating profit margin went down from 16.09% in 2013 to 15.82% in 2014 because of the 57.62% yearly increase in Selling, General and Administrative expense to $20.04M. Net profit margin went up from 10.29% in 2014 to 15.82% mainly due to the reversal of provisions from $-5.87M to $3.73M.
Accordingly, the diluted earnings/share saw an annual improvement from LP 1,703 in End-2013 to LP 2,605 at End-2014. Worth mentioning that the average traded volume for HOLCIM shares throughout 2014 was 968 shares with an average price of $14.73 and a closing share quote of $15.25 as of December 30, 2014. Furthermore, on May 28th 2015, the company’s board approved the distribution of dividends, a net amount of LP 2,135/share, from the shares issued on 14/05/2007.
On the balance sheet, total assets dropped from $303.10M in 2013 to $294.05M by December 2014. In details, inventory fell by 19.04% to $43.89M while receivables upturned by a yearly 11.48% to $25.35M, over the same period.
Total shareholders’ equity went up from $229.35M in 2013 to $242.61M by the end of 2014.
Ciments Blancs, a subsidiary of HOLCIM, also saw a yearly net profit increase of 7.12% to $3.57M in 2014.
2013’s, 2014’s HOLCIM’s Financial Highlights ($M)
| 2013 | 2014 | Change | |
| Total Assets | 303.10 | 294.05 | -2.99% |
| Total Equity | 229.35 | 242.61 | 5.78% |
| Sales | 226.81 | 217.53 | -4.09% |
| Gross Profit Margin | 30.59% | 33.66% | |
| Net Profit | 23.34 | 34.41 | 47.43% |
| Net Profit Margin | 10.29% | 15.82% |
Source: BSE News