Swiss building materials giant Holcim achieved record profitable growth in the first half of 2024.
Net sales of CHF 12,813mn ( €13,402mn) in H1 2024 were up +1.6% in local currency compared to the prior year.
Recurring EBIT for H1 2024 grew over-proportionally compared to net sales to a record CHF 2,210mn, with a rise of 12.7% in local currency versus the prior-year period. Profitability increased sharply in Q2 2024 with a record recurring EBIT margin of 23.2%, reflecting Holcim’s strategic focus on high-value solutions. Consequently, Holcim is well on track to deliver industry-leading margins again for the full year.
Holcim’s earnings per share before impairment and divestments in H1 2024 were CHF 2.44, 10% higher than the prior-year period.
Free cash flow after leases was CHF 48mn in H1 2024, compared to CHF 79mn in H1 2023, and it is on track to achieve full-year 2024 guidance of above CHF 3bn.
Miljan Gutovic, Holcim CEO, said: “I thank all members of the Holcim family for delivering record profitability in the first half of 2024. With our deeply embedded performance culture, our teams focused on successfully meeting our customers’ needs. Our leading sustainable building solutions, from ECOPact low-carbon concrete, to Elevate energy-efficient roofing systems, position us as the partner of choice for large-scale projects like infrastructure and data centers.
“We delivered broad-based profitable growth in H1, achieving a superior earnings profile with a record recurring EBIT margin of 23.2% in Q2, and are well on course to deliver free cash flow of above CHF 3 billion in 2024. With our track record of creating superior value across all market conditions and economic cycles, we are committed to another year of record results, capitalizing on our markets’ strong fundamentals.
“Our disciplined M&A execution continued with 11 value-accretive acquisitions to accelerate circular construction and scale up our ECOCycle technology while expanding Solutions & Products and strengthening our aggregates and ready-mix businesses. Advancing climate action, we reduced CO2 per net sales by 7%.”
