ZURICH, July 31 (Reuters) - Holcim reported better-than-expected recurring operating profit during its second quarter on Thursday, in the first set of results since the building materials maker separated its North American business.
The Swiss cement and roofing products maker posted recurring operating profit of 955 million Swiss francs ($1.17 billion) for the three months to the end of June.
The figure was a 1.2% increase from the 944 million francs figure a year earlier, and beat consensus expectations for 929 million francs.
Sales fell 3.8% to 4.18 billion francs, slightly below forecasts for 4.19 billion francs.
The decline reflected the strengthening of the Swiss franc, which reduced the value of sales when translated from other currencies, as well as the divestment of Holcim's businesses in Kenya, Tanzania, Uganda and South Africa.
When measured in local currencies, net sales were 2.4% higher, while operating profit was 9.8% higher.
The figures were the first Holcim has published since it separated its North American business into a separate entity, called Amrize on June 23.
In its first guidance for 2025 as a standalone business, Holcim said it expected its increase its operating profit, when measured in local currency, by 6-10%.
It also guided for sales growth of 3-5% in local currencies.
($1 = 0.8131 Swiss francs)
Reporting by John Revill, Editing by Miranda Murray
Source: Reuters