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MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  LafargeHolcim    LHN   CH0012214059

LAFARGEHOLCIM (LHN)
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43.2200 CHF   -0.83%
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LafargeHolcim : Ex-LafargeHolcim CEO placed under formal investigation in France - source

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12/08/2017 | 12:20am CEST
CEO Olsen of Franco-Swiss cement giant LafargeHolcim addresses the company's annual shareholder meeting in Zurich

PARIS (Reuters) - The former chief executive of Franco-Swiss cement group LafargeHolcim Ltd, Eric Olsen, was placed under formal investigation on Thursday as part of an inquiry into the group's activities in Syria, a source with the prosecutor's office said.

Prosecutors had launched an investigation in June into LafargeHolcim's operations and its possible "financing of a terrorist enterprise".

The source added Olsen was also placed under judicial supervision.

LafargeHolcim had no comment.

Olsen quit as CEO in April after the company admitted it had paid armed groups to keep a factory operating in war-ravaged Syria.

Under French law, the placing of a suspect under formal investigation means that prosecutors believe they have "serious or consistent evidence" that could result in prosecution.

The decision puts Olsen one step closer to trial though the investigation can still be dropped.

Three other individuals were put under formal investigation last week and two others - one of which being Lafarge's previous CEO Bruno Lafont - were still being questioned on Thursday evening, the source said.

France's Lafarge merged with Switzerland's Holcim in 2015. The new entity employs some 90,000 in around 80 countries.

(Reporting by Emmanuel Jarry; Writing by Matthias Blamont; Editing by Alison Williams and Lisa Shumaker)

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Financials (CHF)
Sales 2018 27 412 M
EBIT 2018 3 601 M
Net income 2018 1 665 M
Debt 2018 14 261 M
Yield 2018 4,69%
P/E ratio 2018 15,57
P/E ratio 2019 12,24
EV / Sales 2018 1,49x
EV / Sales 2019 1,40x
Capitalization 26 449 M
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Mean consensus HOLD
Number of Analysts 21
Average target price 52,4  CHF
Spread / Average Target 20%
EPS Revisions
Managers
NameTitle
Jan Jenisch Chief Executive Officer
Beat W. Hess Chairman
Géraldine Picaud Chief Financial Officer
Heike Faulhammer Group Head-Research & Development
Bertrand P. Collomb Independent Director
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