Company reports significant increase in revenue and results despite challenging market conditions
HOLCIM have announced record trading figures for the third quarter (Q3) of 2022. Net sales of CHF8,045 million were up 16.3% on a like-for-like basis, compared with the same period of 2021. Recurring EBIT reached a record CHF1,551 million in the third quarter of 2022, up 7.7% on a like-for-like basis, compared with the equivalent prior-year period.
As well as delivering a record-breaking third-quarter performance, the period also continued a successful transformation for Holcim, driven by portfolio changes, the ongoing expansion of Solutions & Products, strengthened geographic footprint, and an improved sustainability profile.
During Q3, Holcim strengthened their footprint in the attractive North America market, which now accounts for 40% of the Group’s net sales and 41% of recurring EBIT. With this fast expansion, Holcim’s net sales in mature markets with resilient earnings profiles are projected to increase from 59% in 2019 to 77% in 2022 on a pro forma basis.
Commenting on the results, Holcim chief executive officer Jan Jenisch said: ‘I thank all members of the Holcim family for delivering another quarter of record results while navigating challenging times. Q3 was a quarter of record performance and successful transformation for Holcim. We continued to expand Solutions & Products with four acquisitions and delivered ten bolt-ons in aggregates and ready-mix this year.
‘We also completed the divestments of India and Brazil with cash proceeds of US$7.3 billion. Solutions & Products is already reaching 25% of our net sales in 2022, driven by the roofing business, which is delivering a record recurring EBIT margin of 20%.
‘With these achievements we are accelerating our decarbonization and significantly improving our sustainability profile this year. These record results give us the confidence to upgrade our 2022 guidance for net sales, recurring EBIT and leverage, and launch a share buyback program.’
