H1 recurring EBIT 2.210 bln francs, up 12.7% (Il Sole 24 Ore Radiocor) - Bern, 26 Jul - Swiss construction materials company Holcim said its first half recurring EBIT grew over-proportionally compared to net sales to a record 2.210 billion francs, up 12.7% in local currency and 12.3% higher organically with an 11.4% and 11.0% respective rise in the second quarter alone to 1.678 billion francs.

The recurring EBIT margin in the first half was 17.2% from 15.6% and 23.2% in the second quarter alone from 21.1%, reflecting the strategic focus on high-value solutions.

Net sales reached 12.813 billion francs, up 1.6% in local currency and down 0.3% organically.

In the second quarter alone, net sales came in at 7.227 billion francs, down a reported 1.2% but up 0.2% in local currency and down 0.6% organically.

Holcim's earnings per share before impairment and divestments in the semester were CHF 2.44, 10% higher than the prior-year period.

Holcim said it now sees its full year recurring EBIT margin coming in at above 18.5% compared with a previous guidance of above 18% and expects a low single-digit increase in net sales in local currencies.

It said that the planned listing of its North American business in the US is on track to be completed in the first half of 2025, with the aim of unlocking a new era of value creation for all stakeholders.

AAA-Sch

(RADIOCOR) 26-07-24 07:58:14 (0084) 5 NNNN