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Five-year review

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This table can be found in excel-format in the results library.

in Million Swiss Francs (CHF), unless otherwise stated 2011 2010 2009 2008 2007
Statement of income
Net sales 20,744 21,653 21,132 25,157 27,052
Gross profit 8,528 9,274 9,060 11,041 12,979
Operating EBITDA 3,958 4,513 4,630 5,333 6,930
Operating EBITDA margin 19.1% 20.8% 21.9% 21.2% 25.6%
EBITDA 4,264 4,988 5,229 5,708 8,468
Operating profit 1,933 2,619 2,781 3,360 5,024
Operating profit margin 9.3% 12.1% 13.2% 13.4% 18.6%
Depreciation, amortization and impairment 2,367 1,934 1,858 1,985 1,919
EBIT 2,235 3,054 3,371 3,723 6,549
Income taxes 449 615 623 663 1,201
Tax rate 40% 28% 24% 23% 21%
Net income 682 1,621 1,958 2,226 4,545
Net income margin 3.3% 7.5% 9.3% 8.8% 16.8%
Net income - shareholders of Holcim Ltd 275 1,182 1,471 1,782 3,865
Statement of cash flows
Cash flow from operating activities 2,753 3,659 3,888 3,703 5,323
Cash flow margin 13.3% 16.9% 18.4% 14.7% 19.7%
Investments in property, plant and equipment for maintenance 752 410 376 1,104 1,043
Investments in property, plant and equipment for expansion 886 1,182 1,929 3,287 2,245
Financial investments in financial assets, intangible, other assets and businesses net 154 -230 2,285 1,084 2,277
Statement of financial position
Current assets 8,154 8,512 10,797 9,994 10,372
Long-term assets 34,400 35,747 38,409 35,199 37,839
Total assets 42,554 44,259 49,206 45,193 48,211
Current liabilities 7,695 7,214 9,280 10,765 9,025
Long-term liabilities 15,202 15,924 17,882 16,454 17,241
Total shareholders' equity 19,656 21,121 22,044 17,974 21,945
Shareholders' equity as % of total assets 46.2% 47.7% 44.8% 39.8% 45.5%
Minority interest 2,827 3,020 3,011 2,616 3,163
Net financial debt 11,549 11,363 13,833 15,047 12,873
Capacity, sales and personnel
Annual production capacity cement in million t 216 211.5 202.9 194.4 197.8
Sales of cement in million t 144.3 136.7 131.9 143.4 149.6
Sales of mineral components in million t 5.1 4.1 3.5 4.8 5.5
Sales of aggregates in million t 173 157.9 143.4 167.7 187.9
Sales of ready-mix concrete (in million m3) 48.4 45.9 41.8 48.5 45.2
Personnel (31.12.) 80,967 80,310 81,498 86,713 89,364
Financial ratios
Return on equity 1 1.6% 6.4% 8.6% 10.4% 22.8%
Gearing 2 58.8% 53.8% 62.8% 83.7% 58.7%
Funds from operations 3/ net financial debt 26.4% 31.3% 27.6% 28.0% 50.2%
EBITDA net interest coverage 4.2x 6.1x 7.3x 7.6x 11.0x
EBIT net interest coverage 2.2x 3.7x 4.7x 4.9x 8.5x
1 Excludes minority interest.
2 Net financial debt divided by total shareholders' equity.
3 Net income plus depreciation, amortization and impairment.