Materials giant reports record earnings

The half-year 2021 results from materials giant Holcim show record-breaking growth in earnings, with EBIT (earnings before interest and tax) at 72.2%.

Switzerland-based multinational Holcim, formerly LafargeHolcim, also reported record free cash flow of CHF814 million (€752 million), a rise of 9% on the same period in 2020.

Across the group, operating profit rose by 78.6%, while net income leapt by over 142%, from CHF347 million (€321 million) in H1 2020, to CHF839 million (€775 million) in H1 2021.

In the second quarter alone, Holcim reported 33.2% year-on-year growth in net sales and 56.1% growth in EBIT.

From a European perspective, the company said it had seen a strong recovery in the UK, plus “solid demand in France and continuous growth in Eastern European markets”.

In France, Holcim is currently undertaking modernization work at its plant in Martres, in anticipation of further growth.

Of the latest results, Holcim CEO Jan Jenisch said, “At this time last year I said that Holcim would emerge stronger from this crisis. These half-year results prove it. In the first half of 2021 we set new records in Recurring EBIT, free cash flow and earnings per share. I congratulate our teams for this remarkable achievement and for giving me the confidence to revise our 2021 guidance for Recurring EBIT growth to at least 18% like for like.”

Jenisch continued, “Advancing our vision to become the global leader in innovative and sustainable building solutions, we launched our global green cement range ECOPlanet following the success of ECOPact green concrete, accelerating sustainable construction around the world.”