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 >
This sustainable jewellery brand is luring some women away from gold
This sustainable jewellery brand is luring some women away from gold
Oct 30, 2023
Aulerth's offerings range from ₹5,000 to as high as ₹2.8 lakh. Are women willing to spend this much on jewellery made from scrap? Founder and CEO Vivek Ramabhadran definitely believes so. Aulerth produces couture-inspired pieces in association with designers like JJ Valaya, Suneet Varma, among others. It has reported 33% repeat customers in the past year and expects a spike to 40% soon.
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Suzlon's S144–3 MW wind turbines get big boost from Indian government
Nov 15, 2023
Th Suzlon wind turbines received the RLMM (Revised List of Models & Manufacturers) listing from the Ministry of New and Renewable Energy, marking an important milestone for the successful commercialisation of the product. Shares of Suzlon Energy Ltd ended at ₹40.49, up by ₹1.85, or 4.79%, on the BSE.
SJVN secures 200-MW wind power project at ₹3.24 per unit
SJVN secures 200-MW wind power project at ₹3.24 per unit
Nov 16, 2023
Projected to generate 482 million units in its inaugural year post-commissioning, the cumulative energy generation over a 25-year span is anticipated to reach 12,050 million units. Shares of SJVN Ltd ended at ₹75.17, down by ₹0.50, or 0.66%, on the BSE.
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Tata Power Renewable Energy wins 200-MW project in collaboration with SJVN
Nov 28, 2023
The firm and dispatchable renewable energy (FDRE) project, designed with a hybrid of solar, wind, and battery storage, is aimed at providing a stable and dispatchable energy supply during peak hours. Shares of Tata Power Company Ltd ended at ₹270.75, up by ₹12.60, or 4.88%, on the BSE.
Copyright 2023-2026 - www.financetom.com All Rights Reserved