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    HOLN   CH0012214059

HOLCIM LTD

(HOLN)
  Report
Real-time Estimate Quote. Real-time Estimate Cboe Europe - 09/24 06:17:26 am
46.005 CHF   +0.38%
09/20HOLCIM : JP Morgan is now Neutral
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09/17HOLCIM : Credit Suisse Lowers Price Target on Holcim, Maintains Outperform Recommendation
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09/17HOLCIM : Credit Suisse reiterates its Buy rating
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SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Holcim : ups operating profit view with stimulus due to kick in

07/30/2021 | 03:54am EDT
FILE PHOTO: CEO Jenisch of Holcim addresses the annual news conference in Zurich

ZURICH (Reuters) - Cement maker Holcim increased its guidance for full-year operating profit on Friday, saying it was looking to the impact of post-pandemic economic stimulus measures to maintain upward momentum in the global building sector.

The Swiss-based company, which recently changed its name back from LafargeHolcim, continued its bullish stance under Chief Executive Jan Jenisch after posting big increases in sales and profit during the first six months of 2021.

Higher volumes boosted profits as building projects resumed, with government stimulus policies expected to support further growth in the second half of the year.

Self-help in the form of efficiencies introduced last year and higher prices for its products also helped offset rising energy prices, Jenisch said.

"When the pandemic unfortunately started, we announced a fitness programme ... to focus on cash flow and also to really emerge from the crisis much fitter," Jenisch told journalists.

"We have used the last year and also the first half of this year to improve the costs, and also focus on good pricing," Jenisch said. "The company has never been as fit as it is today."

During the first half its recurring operating profit margin rose to 15.8% from 11.2% a year earlier. Jenisch said such an improvement was not a one off, but was sustainable.

First-half sales rose 17.4% to 12.56 billion Swiss francs ($14 billion), while recurring operating profit (EBIT) jumped 66.1% to 1.98 billion francs.

"Holcim succeeded in posting a very strong second quarter, with broad-based regional and also segment performance," said Zuercher Kantonalbank analyst Martin Huesler.

The company expects its growth momentum to continue in all regions during the rest of 2021, and increased its full-year guidance to see recurring EBIT rising by at least 18%, up from its previous view for a 10% increase on a like-for-like basis.

Stimulus programmes such as U.S. President Joe Biden's $2.3 trillion Build Back Better and India's National Infrastructure Pipeline will also boost activity in the building sector, it said.

Further acquisitions will follow this year after Holcim already made seven deals in the first half of the year.

It will also press on with potential divestments after agreeing to sell its businesses in Malawi, Zambia and the Indian Ocean region.

"We have an ongoing portfolio movement ... and we will shave a little bit in other regions," Jenisch said. [Z8N2M702F]

($1 = 0.9069 Swiss francs)

(Reporting by John Revill; Editing by Brenna Hughes Neghaiwi and David Holmes)

By John Revill


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
HOLCIM LTD -0.37% 45.92 Delayed Quote.-5.74%
PREVENTION INSURANCE.COM 50.00% 1.5 End-of-day quote.36.36%
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Analyst Recommendations on HOLCIM LTD
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Financials
Sales 2021 26 596 M 28 748 M 28 748 M
Net income 2021 2 482 M 2 683 M 2 683 M
Net Debt 2021 9 966 M 10 772 M 10 772 M
P/E ratio 2021 11,4x
Yield 2021 4,43%
Capitalization 28 035 M 30 342 M 30 303 M
EV / Sales 2021 1,43x
EV / Sales 2022 1,27x
Nbr of Employees 67 409
Free-Float 86,1%
Chart HOLCIM LTD
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Holcim Ltd Technical Analysis Chart | HOLN | CH0012214059 | MarketScreener
Technical analysis trends HOLCIM LTD
Short TermMid-TermLong Term
TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 23
Last Close Price 45,83 CHF
Average target price 65,28 CHF
Spread / Average Target 42,4%
EPS Revisions
Managers and Directors
Jan Jenisch Chief Executive Officer & Director
GÚraldine Picaud Chief Financial Officer
Beat W. Hess Chairman
Keith Carr Head-Legal & Compliance
Adrian W. Loader Independent Director
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