Holcim sees another quarter of record profitable growth

Holcim has recorded net sales of CHF7.29bn (US$7.99bn) for the third quarter of 2021, up five per cent on a like-for-like basis compared to CHF6.46bn in the year-ago period. A recurring EBIT increase of 4.7 per cent LfL to a record CHF1.53bn was primarily driven by strong pricing and good cost management, according to the company.

"I’m pleased that we have achieved a record quarter of profitable growth once again. I congratulate my teams for their exceptional resilience as they continue to successfully navigate the challenges posed by the pandemic in a dynamic business environment. On the back of their performance we have revised our Recurring EBIT growth guidance from 18 per cent to at least 22 per cent on a like-for-like basis," said Jan Jenisch, CEO.

Net sales over the first nine months of 2021 reached CHF19.84bn, rising 12.2 per cent LFL, while recurring EBIT advanced 35.2 per cent LfL to CHF3.52bn.

Cement sales in the 9M21 also climbed 15.7 per cent YoY to 150Mt from 139.2Mt in the compared period of last year. Net sales of cement were up 14.8 per cent LfL to CHF12.2bn.

Outlook
The group now expects growth momentum to continue in all regions, while it will also pursue further bolt-on acquisitions and accelerate progress towards its 2030 sustainability targets.

Holcim is set to achieve all Strategy 2022 financial targets one year in advance.