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Holcim's Q3 Profit Exceeds Forecasts Despite Revenue Decline
Holcim, a leading global construction materials manufacturer, reported higher-than-expected operating profits in its third quarter despite a dip in sales. The company achieved a recurring operating profit of 1.67 billion Swiss francs ($1.93 billion) for the quarter ending September, surpassing analyst predictions of 1.65 billion francs.
Margin Growth Offsets Lower Sales
A significant factor behind the profit surge was Holcim's enhanced profit margin, which rose to 23.5%, compared to 21.8% in the same period last year. This improvement was largely driven by increased sales of its more profitable low-carbon cement, roofing materials, and other building products. Despite this, Holcim's revenue slipped 3% to 7.12 billion francs, missing forecasts of 7.19 billion francs.
CEO Confirms Strong Earnings
Holcim's CEO, Miljan Gutovic, expressed confidence in the company's performance, stating, "Our Q3 results confirm Holcim's strong earnings profile, with broad-based growth drivers delivering record recurring EBIT and a record margin."
North American Business Spin-Off on Track
Holcim remains on schedule to spin off its North American division, with the U.S. listing expected to be completed by the first half of 2025. The company also reaffirmed its full-year guidance, anticipating low single-digit sales growth in local currencies and a higher increase in recurring operating profit.
