Zurich, Feb. 24, (dpa/GNA) - Profit at Swiss cement maker Holcim soared 44% for the 2022 fiscal year, the world’s largest cement maker announced Friday.
Holcim said that its fiscal 2022 net income – group share – climbed to 3.31 billion Swiss francs ($3.5 billion) from last year’s 2.30 billion francs.
Earnings per share were 5.48 francs, a growth of 47% from 3.73 francs a year ago.
Adjusted earnings per share were 3.66 francs, compared to 3.98 francs last year.
Net sales of 29.19 billion francs for 2022 grew 8.8% from last year’s 26.83 billion francs.
Sales were up 12.9% on a like-for-like basis.
In the fourth quarter, recurring earnings before interest and taxes (EBIT) dropped 6.2% from last year to 1.03 billion francs, and net sales fell 7.6% from last year to 6.46 billion francs.
Further, the Board of Directors proposed a 14% 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% to 5% 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 annual general meeting in May 2023.
The Board intends to propose Jan Jenisch as the new chairman at the meeting
Subject to the vote, he will succeed as the chairman and continue as chief executive of Holcim for a limited duration.