... Rating: A-2 / BBB, outlook stable• Fitch Credit Rating: F2 / BBB, outlook stable• Moody’s Credit Rating: P2 / Baa2, outlook negative22© 2014 Holcim LtdEurope – regional overview27 2013 2014LFL ... 18.6%Million CHF(if not otherwise stated)1st Quarter +/-Aggregates volumes (mt)Ready-mix volumes (mm3)© 2014 Holcim LtdStatement of cash flowsFull year 2013 2013 2014Cash flow from operating activities ... 546 -452 -617 -36.6%+/-Million CHF1st Quarter 20© 2014 Holcim LtdFinancial positionMillion CHF10,7589,46110,04020,25818,67718,83731.3 .2013 31.12 .2013 31.3.2014Net financial debt Total...