Holcim Ltd (HCMLF) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning. Welcome to Holcim's first quarter 2025 trading update. My name is Bernd Pommerin and I'm pleased to be here with our CEO, Miljan Gutovic, and our CFO, Stefan Kindler. After their presentations of our results, you will have the opportunity to ask your questions. If you want to ask a question, please click the button Request to Speak. We would encourage you to already now register for a question. And with this, I'll directly hand it over to Miljan. Miljan, please. Thank you, Bernd. Good morning to all of you and welcome to Holcim's Q1 Trading Update. Stefan and I are pleased to be presenting our results to you today. And of course, there will be time afterwards for your questions. To start with, let me take you through the key highlights. We had a good start to the year in Q1. Our net sales were stable versus Q1 24, despite unfavorable weather conditions in North America. We achieved over-proportional growth in recurring EBIT. This increased by 1.7% in local currency versus a year ago. As you can see, we continued with our strong M&A momentum with another five value accretive acquisitions. We are well positioned to navigate today's economic uncertainty, and I will speak more about this shortly. I can confirm the spin-off of MRISE is on track and expected to occur in June. We are confirming full year guidance 2025. Let's look at these highlights now in more details. First, let's look at the progression of our recurring EBIT and recurring EBIT margin on a rolling 12-month basis. This graph shows that we have further expanded our 12-month rolling recurring EBIT margin of 19.1% and rolling recurring EBIT above 5 billion Swiss francs. This is of course driven by our high value strategy from scaling up our advanced sustainable building solutions, accelerating d...