Building materials giant Holcim has posted new record Q3 sales of CHF 8.045bn (+16.3% like-for-like [LFL] -€8.115bn). The Switzerland-headquartered group also achieved its biggest-ever Q3 recurring EBIT of CHF 1.551m (+7.7% LFL - €1.564bn).
Based on the record-breaking third-quarter performance, Holcim's 2022 outlook has been upgraded to full-year net sales growth of at least 12% (LFL), with recurring EBIT forecast at mid-single digit growth (LFL).
Holcim CEO 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 20221, driven by the roofing business, which is delivering a record Recurring EBIT margin of 20%. We strengthened our footprint in the attractive North America market, accounting for 40% of sales and 41% of Recurring EBIT2. With these achievements, we are accelerating our decarbonisation 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 programme."
