Holcim: raises margin target for 2023
(CercleFinance.com) - Holcim announces that Q3 net sales reached 7.
34bn CHF (just below 7.4bn CHF consensus), down 8.8% y-o-y, but up 6.6% on an organic basis.
The company also reported recurring EBIT of 1.6bn CHF, up 3.1% y-o-y as reported, although up 14.1% organically.
The cement manufacturer highlighted its performance in North America in the first nine months, with record net sales and recurring EBIT, leading to a recurring EBIT margin of 21.7%.
Management said that Q3 confirms its strong earnings profile, with widespread growth drivers generating a further increase in profitability. This performance has resulted in it raising its 2023 guidance, now looking for a recurring EBIT margin of over 17% for the year, raising its roofing systems net sales target to over $6bn, with EBIT of $1.3bn by 2026.
However, the stock was down about 2% in Zurich after this publication.
Copyright (c) 2023 CercleFinance.com. All rights reserved.
34bn CHF (just below 7.4bn CHF consensus), down 8.8% y-o-y, but up 6.6% on an organic basis.
The company also reported recurring EBIT of 1.6bn CHF, up 3.1% y-o-y as reported, although up 14.1% organically.
The cement manufacturer highlighted its performance in North America in the first nine months, with record net sales and recurring EBIT, leading to a recurring EBIT margin of 21.7%.
Management said that Q3 confirms its strong earnings profile, with widespread growth drivers generating a further increase in profitability. This performance has resulted in it raising its 2023 guidance, now looking for a recurring EBIT margin of over 17% for the year, raising its roofing systems net sales target to over $6bn, with EBIT of $1.3bn by 2026.
However, the stock was down about 2% in Zurich after this publication.
Copyright (c) 2023 CercleFinance.com. All rights reserved.