ZURICH (Reuters) - Holcim's North American spin-off Amrize is targeting annual growth in adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) of about 8-11% between 2025 and 2028, the building materials company said on Tuesday.

The listing of Amrize remains on track by the end of the first half of 2025, the company said in a statement ahead of its investor day in New York. The company is planning annual revenue growth of about 5-8% over the 2025-2028 period, it said.

The separation is likely to be one of the biggest deals in the global construction industry. The company targeted a $30 billion valuation when it was first announced in January 2024.

In 2024, Amrize generated $11.7 billion in revenue, equivalent to an annual growth rate of 13% since 2021, a year when the global economy rebounded strongly from the impact of the COVID-19 pandemic.

Adjusted EBITDA was $3.2 billion last year, making for annual growth of 16% since 2021.

The business, which has more than 1,000 sites across the United States and Canada and 19,000 employees, is the largest cement manufacturer in North America.

Still, the U.S. construction market is experiencing difficulties with high interest rates weighing on residential and commercial construction projects, while high inflation is reducing the impact of government infrastructure projects.

(Writing by Dave Graham, Editing by Friederike Heine)