(RTTNews) – Swiss building materials firm Holcim Group (HCMLY.PK, HCMLF.PK) reported Friday that its third-quarter recurring EBIT grew 4.6 percent to 1.67 billion francs from last year’s 1.60 billion francs. Organic growth was 8.8 percent.
Recurring EBIT margin improved to 23.5 percent from 21.8 percent a year ago.
Net sales for the period dropped 3 percent to 7.12 billion francs from prior year’s 7.34 billion francs. Organic sales, however, edged up 0.3 percent.
In the quarter, North America net sales fell 7.1 percent on a reported basis and 4.6 percent organically to 1.88 billion francs. Europe net sales were 1.87 billion francs, up 0.5 percent on a reported basis, but down 0.4 percent organically.
Further, the company said it is on track to achieve full-year 2024 guidance, with low single-digit net sales growth in local currency; over-proportional growth in recurring EBIT, and increase in recurring EBIT margin to above 18.5 percent.
The company further said the intended listing of Holcim’s North American business in the U.S. is on track to be completed in the first half of 2025.
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