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Holcim Announces Plan to List North American Business in United States

The company’s board has tasked Chairman and CEO Jan Jenisch to lead the planned U.S. listing of Holcim’s North America business. Jenisch commented, “Holcim has reached a new level of financial performance and a superior earnings profile with industry-leading margins and a strong balance sheet. The success of our North American business makes it the leading pure-play building solutions company in the region. With a U.S. listing, we will unleash its full potential to be the partner of choice for our customers in one of the world’s most attractive construction markets. As we fully capitalize on the region’s infrastructure and construction boom, we will accelerate growth and unlock value for our stakeholders.

“Holcim post U.S. listing of North America will further advance its leadership in innovative and sustainable building solutions. With decarbonization and M&A as drivers of profitable growth, the company will continue to deliver leading margins and attractive shareholder returns.

“This next step of growth and value creation is possible thanks to the outstanding leadership of our empowered teams around the world delivering record results year after year.”

According to Holcim, the listed North American business will have an estimated EBITDA (before leases) margin of more than 27% for 2023. This business has a proven track record of outstanding profitable growth with an average annual growth rate of over 20% and an over-proportional growth in EBIT of more than 26%, on average, over the past four years. Holcim reports that it will execute an accelerated growth strategy to achieve more than $20 billion in net sales and more than $5 billion in EBIT with industry-leading margins by 2030. The listed company will pursue a U.S. Dollar-based tailored capital structure and capital allocation priorities.

Holcim post U.S. listing of North America will advance its position in innovative and sustainable building solutions, with an estimated EBITDA (before leases) margin of over 23% for 2023. The company will aim to grow net sales to around CHF 22 billion, EBIT to more than CHF 4 billion, and free cash flow to more than CHF 3 billion by 2030.

Building on its superior financial performance, the company will accelerate its leadership in decarbonization and circularity as drivers of profitable growth, advancing sustainable building solutions for its customers. It will continue its portfolio transformation with disciplined value-accretive transactions, including expanding into the attractive Solutions & Products segment, focusing on advanced mortars and insulation for repair and refurbishment.

The U.S. listing is expected to be completed in the first half of 2025. It will be subject to shareholder approval at an Extraordinary General Meeting expected in the first quarter of 2025, as well as other customary approvals. The transaction is intended to unlock value by creating two distinct and compelling investment profiles with attractive shareholder returns.

Learn more about Holcim at www.holcim.com

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