Holcim has reported record quarterly results, with 3Q24 recurring EBIT reaching CHF1.67bn (US$1.93bn), reflecting a 4.6 per cent increase YoY and a margin expansion to 23.5 per cent.

Net sales for 3Q stood at CHF7.12bn, down three per cent YoY but up 0.5 per cent in local currency. Holcim's year-to-date net sales of CHF19.93bn mark a 1.2 per cent increase in local currency, while nine-month recurring EBIT rose 6.6 per cent YoY to CHF3.88bn, reaching a 19.5 per cent margin.

North America delivered robust profitability, with a 3Q recurring EBIT margin reaching 31.8 per cent, up from 28.6 per cent, in addition to over 150 secured infrastructure projects.

Latin America maintained strong growth momentum, recording a 36.5 per cent recurring EBIT margin for 3Q24, up 130 basis points, supported by strategic acquisitions and nearshoring trends. 

In Europe, 3Q recurring EBIT rose 8.7 per cent YoY to CHF436m, with a margin increase to 22.3 per cent. This suggests the company successfully employed price management strategies, as net sales in the region fell 0.5 per cent during the same period. 

The Asia, Middle East & Africa region expanded recurring EBIT margin to 23.1 per cent for the nine months, supported by favourable market conditions in Australia and North Africa.

Together, these strong regional performances contributed to Holcim’s record recurring EBIT margin of 23.5 per cent for 3Q24, despite a 6.4 per cent decrease in net sales for the region.

The quarter saw six acquisitions, expanding Holcim’s Solutions & Products segment in North America, Europe, and Latin America. Sustainability initiatives remain robust, with Holcim’s ECOCycle^® technology recycling construction demolition materials up by 23 per cent in the first nine months. The company remains on track to meet its full-year guidance, with expected EBIT margin improvement and free cash flow above CHF3bn.