Holcim (Liban) S.A.L., one of the leading cement companies in Lebanon, published its audited financial statements this week, reporting a net loss of $5.02 million in 2020, in comparison with a loss of $0.85 million a year before. In details, the company witnessed a 34.90% y-o-y drop in net sales to $65.09 million accompanied by a 33.35% contraction in its cost of goods sold to $50.31 million dragging its gross profit downwards by circa 40% to $14.78 million. Consequently, Holcim’s gross profit margin declined from 24.50% in 2019 to 22.71% in 2020. However, the company managed to trim its selling, general, and administrative expenses by 2.55% on an annual basis to $19.44 million. On the balance sheet front, Holcim’s total assets widened by 7.99% in 2020 to $268.22 million, up from $248.37 million at end of 2019 on the back of the 135% increase in cash and cash equivalents to $44.27 million at the expense of some 35.79% drop in accounts & notes receivable and other assets to $28.77 million. Inventory, on the other hand, rose by 3.63% in 2020 to $33.58 million. Concurrently, the company’s total liabilities increased by 22.41% in 2020 to $129.38 million while shareholders’ equity dropped by 2.69% to $138.84 million.