Holcim H1 Profit Climbs, Lifts FY22 LFL Sales Growth View - Quick Facts

Swiss building materials company Holcim AG (HCMLY.PK,HCMLF.PK) reported Wednesday that its first-half net income Group share climbed 38 percent to 1.16 billion Swiss francs from last year's 839 million francs.

Earnings per share reached 1.90 francs, up 39.7 percent from 1.36 francs a year ago.

Adjusted net income was 1.30 billion francs or 2.14 francs per share, compared to 881 million francs or 1.43 francs per share a year ago.

Recurring EBIT grew 9.6 percent to 2.17 billion francs, while Recurring EBIT margin declined to 14.8 percent from 15.8 percent last year.

Net sales for the period climbed 17 percent to 14.68 billion francs francs from 12.56 billion francs last year. Net sales were up 12.7 percent on a like-for-like basis. The increase was driven by sales growth in all segments.

Net sales in the second quarter were 8.24 billion francs, up 14.6 percent from last year on a reported basis and up 13.6 percent on a like-for-like basis.

Looking ahead, the company upgraded net sales growth guidance for fiscal 2022 to at least 10 percent LFL from previous view of 8 percent. The company sees at least 10 percent revenue growth in Swiss francs.

Jan Jenisch, CEO said, "Our record results, from net sales to Recurring EBIT and earnings per share, are setting solid foundations to deliver our 'Strategy 2025 - Accelerating Green Growth'. Our roofing and insulation businesses stood out as growth engines, on track to reach pro-forma net sales of CHF 3.5 billion in 2022. This remarkable achievement gives us the confidence to revise our 2022 guidance to at least 10 percent net sales growth on a like-for-like basis."

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