Minutes of HOLCIM’s Ordinary General Assembly

On Wednesday June 15th, 2016 at 2:00 pm, the Ordinary General Assembly of HOLCIM took place at “Le Royal” Hotel, Dbayeh. During the assembly, the Board decided to elect the Chairman of the Board, nominate a general manager for the company, and report the results as at End of May 2016.

HOLCIM recorded net profits of $14.27M at the end of May 2016, compared to a loss of $3.18M in May 2015. This was due to a 23.5% yearly increase in net sales to $81.8M, end of May 2016, as a result of higher sales volumes, prices and lower variable costs due to lower electrical and thermal energy cost.  

As for earnings before interest, tax, depreciation and amortization (EBITDA), it increased from $9.39M in May 2015, to $32.98M in May 2016.

The Board decided to keep 10% of the net profits or $1.43M as legal reserves. Since the company has $198,141.29 in retained earnings, the board decided to distribute $416.63M in dividends, which is worth LBP 1,219/share, the equivalent of $0.81/share.

Performance of HOLCIM Shares

Minutes of HOLCIM’s Ordinary General Assembly

Source: BLOMINVEST Bank Research Department, BSE News

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