Half Year 2024 Holcim AG Earnings Call Transcript
Key Points
- Holcim Ltd (HCMLF) achieved record profitable growth in H1 2024, with EBIT up 12.7% in local currency and 8.1% in Swiss francs.
- Net sales grew by 1.6%, and the company achieved a record recurring EBIT margin of 23.2%.
- Earnings per share increased by 10%, and the company completed 11 acquisitions and four divestments in H1 2024.
- Significant progress was made in sustainability, with a 7% reduction in CO2 per net sales and the publication of the third climate report.
- Strong performance across all regions, with North America, Latin America, Europe, and Asia and Middle East Africa all showing EBIT margin growth.
- Organic sales growth was flat, indicating some challenges in driving growth without acquisitions.
- Softer volumes were experienced, particularly in the US, due to weather conditions.
- FX headwinds impacted results, although less than in the previous year.
- The ready-mix concrete segment was affected by weather conditions, leading to a decline in margins.
- Concerns about the deceleration in organic growth in the solutions and products segment, particularly in Q2.
Good morning, and welcome to the analyst and investor video conference for Holcim's first-half year 2024 results. I'm Bernd Pomrehn, Head of Investor Relations, and it's a pleasure to welcome also our CEO Miljan Gutovic, and our CFO Steffen Kindler, for the presentation today. After the presentation, you will have the opportunity to ask your questions. Travel smooth flow, we ask you please to either join by phone or by webcast in order to ask your questions. (Event Instructions)
With this I hand over to Miljan. Miljan, please.
Thank you, Bernd, and good morning to all of you, and thank you very much for joining us H1 update. We are very pleased to share with you that we have achieved a record profitable growth in H1 of 2024. As you can see, our EBIT is up 12.7% in local currency and also 8.1% in Swiss francs. We achieved net sales growth of 1.6%, and we are very pleased with our
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