financetom
Business
financetom
/
Business
/
Cement maker Holcim beats earnings forecasts in fourth quarter
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Cement maker Holcim beats earnings forecasts in fourth quarter
Feb 27, 2025 10:13 PM

ZURICH (Reuters) - Holcim reported better-than-expected earnings for its fourth quarter on Friday as the building materials company gave more details of its plan to spin off its North American business.

Holcim reported recurring operating profit rising 4.4% to 1.17 billion Swiss francs ($1.30 billion), beating forecasts for 1.14 billion francs in a company gathered consensus of analysts.

The cement maker's sales of 6.47 billion francs in the three months to the end of December, down 1.9% from a year earlier, was roughly in line with forecasts for 6.45 billion francs.

On Friday, Holcim also said it had made filings to the United States securities regulator about the planned spin-off of its North American business, expected to be one of the biggest deals in the global construction market this year.

Holcim has filed a Form 10 registration statement to the SEC with details about the carved-out business, and also said it would hold an investor day on March 25 in New York.

The business, which Holcim said last week it would call Amrize, had revenues of $11.7 billion in 2024 and adjusted core profit of $3.2 billion.

"Today's filing marks an important step towards the planned listing of Amrize and our ambition to become North America's leading building solutions company from foundation to rooftop," Holcim Chairman Jan Jenisch, who is set to be CEO of Amrize, said in a statement.

($1 = 0.8988 Swiss francs)

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
BRIEF-Dun & Bradstreet Enters Into a Definitive Agreement To Be Acquired by Clearlake Capital Group
BRIEF-Dun & Bradstreet Enters Into a Definitive Agreement To Be Acquired by Clearlake Capital Group
Mar 24, 2025
March 24 (Reuters) - Dun & Bradstreet Holdings Inc ( DNB ) : * DUN & BRADSTREET ENTERS INTO A DEFINITIVE AGREEMENT TO BE ACQUIRED BY CLEARLAKE CAPITAL GROUP * DUN & BRADSTREET HOLDINGS INC ( DNB ) - SHAREHOLDERS TO RECEIVE $9.15 PER SHARE IN CASH * DUN & BRADSTREET HOLDINGS INC ( DNB ) - TRANSACTION VALUED AT...
Elicio Therapeutics Names Preetam Shah CFO
Elicio Therapeutics Names Preetam Shah CFO
Mar 24, 2025
07:57 AM EDT, 03/24/2025 (MT Newswires) -- Elicio Therapeutics ( ELTX ) said Monday that it has named Preetam Shah as its chief financial officer and chief strategy officer, starting immediately. Shah previously was CFO and chief business officer of biotech firm Cidara Therapeutics (CDTX). ...
Rapid7 adds three new board directors in settlement with Jana Partners
Rapid7 adds three new board directors in settlement with Jana Partners
Mar 24, 2025
NEW YORK (Reuters) - Cybersecurity company Rapid7 ( RPD ) on Monday said it has reached an agreement with activist investor Jana Partners to add three new directors to its board, including one of the hedge fund's partners. The Boston-based company named Wael Mohamed, Mike Burns and Kevin Galligan as new directors. Its board currently has eight members. Rapid7 (...
Chinese EV giant BYD's fourth-quarter profit leaps 73%
Chinese EV giant BYD's fourth-quarter profit leaps 73%
Mar 24, 2025
BEIJING (Reuters) - Chinese electric vehicle (EV) maker BYD lifted fourth-quarter net profit by 73.1% to a record 15 billion yuan ($2.1 billion), it said on Monday, reaping the rewards from undercutting and outselling its rivals. Fourth-quarter revenue was up 52.7% at 274.9 billion yuan, the company said in a stock market filing. For the whole of last year, profit...
Copyright 2023-2026 - www.financetom.com All Rights Reserved