Latest news with #MiljanGutovic
Yahoo
5 days ago
- Business
- Yahoo
Tariff uncertainty won't affect Holcim's US expansion, CEO says
EVIA, Greece (Reuters) -Uncertainty over tariffs will not stall Holcim's plans to expand into the United States, the chief executive officer of the Swiss building materials supplier said on Thursday. A Manhattan-based court ruled on Wednesday that U.S. President Donald Trump overstepped his authority by imposing across-the-board duties on imports from trading partners. The news was met with cheers from markets but also creates uncertainty about how the situation will play out for companies. This month, Holcim received shareholder approval to spin off the cement maker's North American business, Amrize, to enable greater focus and benefits from increased construction spending in the United States. "We produce locally and we sell to local customers. So the impact from the tariffs for us is non-existent," Chief Executive Miljan Gutovic told Reuters in Greece at the opening of a 400-million-euro ($454 million) net-zero cement plant. The spin-off of its U.S. business will take place by the end of June as planned, he said. "I think (it will happen) any day now, probably in the second half of June," Gutovic said. ($1 = 0.8816 euros) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
5 days ago
- Business
- Reuters
Tariff uncertainty won't affect Holcim's US expansion, CEO says
EVIA, Greece, May 29 (Reuters) - Uncertainty over tariffs will not stall Holcim's (HOLN.S), opens new tab plans to expand into the United States, the chief executive officer of the Swiss building materials supplier said on Thursday. A Manhattan-based court ruled on Wednesday that U.S. President Donald Trump overstepped his authority by imposing across-the-board duties on imports from trading partners. The news was met with cheers from markets but also creates uncertainty about how the situation will play out for companies. This month, Holcim received shareholder approval to spin off the cement maker's North American business, Amrize, to enable greater focus and benefits from increased construction spending in the United States. "We produce locally and we sell to local customers. So the impact from the tariffs for us is non-existent," Chief Executive Miljan Gutovic told Reuters in Greece at the opening of a 400-million-euro ($454 million) net-zero cement plant. The spin-off of its U.S. business will take place by the end of June as planned, he said. "I think (it will happen) any day now, probably in the second half of June," Gutovic said. ($1 = 0.8816 euros)
Yahoo
5 days ago
- Business
- Yahoo
Tariff uncertainty won't affect Holcim's US expansion, CEO says
EVIA, Greece (Reuters) -Uncertainty over tariffs will not stall Holcim's plans to expand into the United States, the chief executive officer of the Swiss building materials supplier said on Thursday. A Manhattan-based court ruled on Wednesday that U.S. President Donald Trump overstepped his authority by imposing across-the-board duties on imports from trading partners. The news was met with cheers from markets but also creates uncertainty about how the situation will play out for companies. This month, Holcim received shareholder approval to spin off the cement maker's North American business, Amrize, to enable greater focus and benefits from increased construction spending in the United States. "We produce locally and we sell to local customers. So the impact from the tariffs for us is non-existent," Chief Executive Miljan Gutovic told Reuters in Greece at the opening of a 400-million-euro ($454 million) net-zero cement plant. The spin-off of its U.S. business will take place by the end of June as planned, he said. "I think (it will happen) any day now, probably in the second half of June," Gutovic said. ($1 = 0.8816 euros) Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Time of India
26-04-2025
- Business
- Time of India
Holcim posts operating profit of $619 million in Q1 2025
Swiss construction materials maker Holcim reported better than expected first-quarter profit on Friday, in its last results before the spin-off of its North American business Amrize . As a local-to-local business, Holcim was well-prepared to navigate tariff turmoil, CEO Miljan Gutovic told reporters in a media call on Friday, adding that projects in the U.S. remained on track despite bad weather at the beginning of the year. "Look, there is obviously uncertainty, but so far, we have not seen any cancellation of projects," he said. "The pipeline for us is very healthy." Holcim posted recurring operating profit of 515 million Swiss francs ($619 million) for the three months ended March 31, beating forecasts for 494 million francs in a company-compiled consensus. Sales remained stable at 5.54 billion francs, beating forecasts for 5.49 billion francs. "Our disciplined M&A execution continued with five value-accretive acquisitions," Gutovic said in a statement. "These transactions will strengthen our aggregates and ready-mix businesses in Europe and North America , and our specialty building solutions in Latin America ." With Holcim confirming its targets, an acceleration of sales and recurring operating profit growth could be expected throughout fiscal year 2025, Vontobel analyst Mark Diethelm said in a note. Holcim is planning to spin off 100% of Amrize to its shareholders, with the separation expected to be completed in June. The spin-off is expected to be one of the largest deals in the global construction industry, with the company initially targeting a $30 billion valuation when it was announced in January 2024. The transaction still requires approval from Holcim's shareholders at the company's AGM on May 14, with Amrize planning listings on the New York Stock Exchange and the SIX Swiss Exchange. The company outlined its post-split strategy last month, in which it said it was targeting average annual growth in earnings before interest and taxes of 6% to 10% by 2030. It will focus on Europe, Australia, North Africa, and Latin America, and expand its focus on building solutions, including foundations, flooring, walling and roofing. Holcim, which in 2024 had net sales of 16.3 billion francs excluding North America, would have a total estimated capital deployment capacity of 18-22 billion francs from 2025 to 2030, the company said, with the cash earmarked for large acquisitions and share buybacks.
Reuters
25-04-2025
- Business
- Reuters
Holcim beats forecasts in first quarter
April 25 (Reuters) - Holcim (HOLN.S), opens new tab reported better-than-expected profit for the first quarter on Friday, in the cement maker's last results before the spin-off of its North American operations. The Swiss building materials company posted recurring operating profit of 515 million Swiss francs ($619 million) for the three months to the end of March, beating forecasts for 494 million francs in a company-gathered consensus. Sales rose to 5.54 billion francs, beating forecasts for 5.49 billion francs. "Our disciplined M&A execution continued with five value-accretive acquisitions," said CEO Miljan Gutovic in a statement. "These transactions will strengthen our aggregates and ready-mix businesses in Europe and North America, and our specialty building solutions in Latin America." ($1 = 0.8317 Swiss francs)
