Holcim : Diamonds and gold
>EBIT 4% ahead of expectations and good FCF at CHF 3.7bn - Q4 2023 EBIT came to CHF 1,117m (+17.9% l-f-l and 8.7% reported), beating the consensus (CHF 1,073m) and our expectations (CHF 1,060m est.). Relative to our estimates (table page 2), EBIT beat our expectations in all divisions: North America (+2.5%), Latin America (+12.6%), Europe (+10.4%), except AMEA (-14.5%).All told, the price cost pair is probably still positive (no information on this subject in the...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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