Holcim Raises Full-Year Guidance Following Strong Third-Quarter Results
· Business · Economic Times, CNBC, Bloomberg
Swiss cement manufacturer Holcim has raised its full-year guidance for the second time this year after reporting a 17% increase in third-quarter recurring earnings to 976 million Swiss francs. The company now expects full-year growth in recurring earnings before interest and taxes of up to 12%, up from a previous forecast of 10%. CEO Miljan Gutovic attributed the performance to robust demand for sustainable building materials and disciplined cost management. Holcim is also increasing its use of alternative fuels to mitigate rising energy costs, with a goal of reaching 90% usage by 2030. The firm plans to announce approximately 15 acquisitions by the end of the year.
Why it matters
Holcim's ability to maintain profitability despite high energy costs signals resilience in the global construction sector and highlights the growing market demand for low-carbon building materials.
Read the original report — Economic Times
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