Bern, July 26 – Swiss cement giant Holcim announced today a decline in sales and profits for the first half of 2023. The results were negatively impacted by a slowdown in the construction sector in Europe and North America.
The company’s sales reached 12.81 billion Swiss francs, representing a year-on-year decrease of 1.9%. Although the pace of sales decline slowed in the second quarter, overall results fell short of analysts’ expectations.
The company’s profit decreased by 3.4%. Despite this decline, profit adjusted for special items, which is typically more closely watched by investors, saw a slight increase.
Weak demand for construction materials, caused by a slowdown in construction activity, negatively impacted the company’s results. Holcim emphasized that it is taking steps to improve efficiency and strengthen its market position.
The company’s future will depend on the development of the construction sector and the overall economic situation. Investors will be closely monitoring the company’s next steps and its ability to adapt to changing market conditions.
