Record profitable growth in H1 for Holcim Group Services Ltd

Holcim Group has announced record profitable growth in the first half of 2024. Recurring EBIT increased by 12.7% in local currency and 8.1% in CHF. Net sales rose by 1.6% in local currency, achieving a record recurring EBIT margin of 23.2% in Q2 2024.

Earnings per share before impairment and divestments grew by 10% to CHF 2.44. The company executed 11 value-accretive acquisitions and four divestments.

CEO Miljan Gutovic credited the company’s performance culture and market-leading sustainable solutions. Holcim’s ECOPact low-carbon concrete and Elevate energy-efficient roofing contributed to large-scale projects.

Despite these gains, free cash flow after leases fell to CHF 48 million. However, Holcim maintains its guidance for 2024, aiming for over CHF 3 billion in free cash flow.

Holcim also focuses on sustainability, reducing CO2 per net sales by 7% and advancing carbon capture projects in Germany and Belgium. The company plans to list its North American business in 2025, aiming to unlock further value.