Holcim : Good Q2 2021 and easing of the price/cost differential
>Q2 EBIT >10% of the consensus - Q2 EBIT came in at CHF 1,455m (+55.8% lfl) vs CHF 1,321m for the consensus and our expectation of CHF 1,341m. The group benefited from a favourable comparison base (very negative Q2 volumes due to lockdown, integration of FSBP). Compared with our estimates (see page 2), EBIT was higher in all divisions except North America. Overall, the contribution from joint ventures was CHF 141m in Q2 (vs CHF 133m in Q2 2020) after CHF 10m in Q1 202...LafargeHolcim is a producer of cement and aggregates. Co. also supplies ready-mix concrete, concrete products, asphalt and a range of services. Co. operates through three segments: cement, aggregates, and other construction materials and services. Co.'s cement segment provides a range of cementitious materials and also develops customized blends for special applications. Through its aggregates segment, Co. produces aggregates which include crushed stone, gravel and sand mainly used in the manufacture of ready-mix concrete, concrete products and asphalt, as well as for road building and railway tracks, with production centered on quarrying, preparing and sorting the raw material.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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