The Group achieved record Q3 Recurring EBIT (earnings before interest & taxes) of CHF 1.534bn (€1.439bn), up 4.7% on a like-for-like basis. The quarter also saw an increase in Holcim's solutions and products portfolio and the Group's 2050 net-zero targets validated by Science Based Targets initiative (SBTi).
Holcim CEO Jan Jenisch said: "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% to at least 22% on a like-for-like basis.
"Most importantly, our colleagues have kept their focus on our key long-term value creation drivers to become the global leader in innovative and sustainable building solutions. We are picking up momentum in our strategic portfolio transformation, with the divestment of our business in Brazil, the announcement of nine bolt-on acquisitions so far this year, and the expansion of our Firestone GacoFlex range from Mexico to Colombia and Ecuador. We continue to lead the way in our sector's climate action, as recognised yesterday by the Science Based Targets initiative's validation of our 2050 net-zero targets, with the deployment of our green building solutions, from ECOPact to ECOPlanet at the heart of our journey."
Holcim's record Recurring EBIT increase was primarily driven by strong pricing and good cost management. Net sales over the first nine months of 2021 were CHF 19.842bn (€18.62bn), or 12.2% higher like-for-like than the prior-year period.
Holcim expects growth momentum to continue in all regions with double-digit net sales growth of Firestone Building Products in 2021. The company will pursue further bolt-on acquisitions while accelerating progress towards its 2030 sustainability targets.
