Holcim : Always better than expected, second nature
>Q4 EBIT 4% above the consensus - Q4 2021 EBIT came in at CHF 1,096m (+1.3% LFL), above the consensus (CHF 1,057m) and our expectations (CHF 1,054m). Compared with our estimates, EBIT was higher in Europe (+6.2%) and Africa (+4.0%). Full-year EBIT was CHF 4,612m (+25.5% as reported and 25.7% like for like).ND was CHF 9,977m slightly above the consensus forecast of CHF 9,519m. FCF was good at CHF 3,264m, in line with the 2020 figure of CHF 3,249m and expectations....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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