Holcim FY22 Profit Climbs, Lifts Dividend, Sees Growth In FY23; Names Jan Jenisch Chairman
Swiss building materials firm Holcim Group (HCMLY.PK,HCMLF.PK) reported Friday that its fiscal 2022 net income Group share reached 3.31 billion Swiss francs, up 44 percent from last year’s 2.30 billion francs.
Earnings per share were 5.48 francs, a growth of 47 percent from 3.73 francs a year ago.
Adjusted earnings per share were 3.66 francs, compared to 3.98 francs last year. Adjusted earnings per share before the resolution with the US Department of Justice increased 24.6 percent at 4.96 francs.
Net sales of 29.19 billion francs for 2022 grew 8.8 percent from last year’s 26.83 billion francs. Sales were up 12.9 percent on a like-for-like basis.
In the fourth quarter, recurring EBIT dropped 6.2 percent from last year to 1.03 billion francs, and net sales fell 7.6 percent from last year to 6.46 billion francs.
Further, the Board of Directors proposed a 14 percent increase in dividend to 2.50 francs per registered share.
The company also confirmed its strong 2023 outlook.
Holcim expects continued profitable growth with net sales growth of 3 percent to 5 percent like-for-like, and over-proportional growth in Recurring EBIT on LFL basis.
Separately, Holcim announced that Beat Hess, Chairman of the company since 2016, has decided not to seek re-election to the Board of Directors at the AGM in May 2023.
The Board intends to propose Jan Jenisch as the new Chairman at the AGM.
Subject to the vote, he will succeed as the Chairman and continue as CEO of Holcim for a limited duration.
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