Holcim beats profit forecast in first results since North America spin-off
The Swiss cement and roofing products maker posted recurring operating profit of 955 million Swiss francs ($1.17 billion) for the three months to the end of June.
The figure was a 1.2% increase from the 944 million francs figure a year earlier, and beat consensus expectations for 929 million francs.
Sales fell 3.8% to 4.18 billion francs, slightly below forecasts for 4.19 billion francs.
The decline reflected the strengthening of the Swiss franc, which reduced the value of sales when translated from other currencies, as well as the divestment of Holcim's businesses in Kenya, Tanzania, Uganda and South Africa.
When measured in local currencies, net sales were 2.4% higher, while operating profit was 9.8% higher.
The figures were the first Holcim has published since it separated its North American business into a separate entity, called Amrize (AMRZ.S), opens new tab on June 23.
In its first guidance for 2025 as a standalone business, Holcim said it expected its increase its operating profit, when measured in local currency, by 6-10%.
It also guided for sales growth of 3-5% in local currencies.
($1 = 0.8131 Swiss francs)
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Telegraph
33 minutes ago
- Telegraph
National Lottery goes offline in high-stakes upgrade
A team of IT experts will be on red alert this weekend as the National Lottery is plunged into a two-day blackout as part of the biggest technology overhaul in its 31-year history. The Gambling Commission, whose job it is to ensure one of Britain's biggest sources of charity donations is properly run, has assembled a team of people to supervise a complex upgrade scheduled to last 36 hours. A spokesman for the commission said. 'We will have colleagues working over the full period to closely examine updates from Allwyn as this important change is implemented.' Meanwhile, the number of agents taking calls on the National Lottery hotline will treble on Sunday and be four times the usual number on Monday in case of any major glitches. The number of engineers on duty will double. The state of readiness follows months of scrutiny over Allwyn's faltering stewardship of one of Britain's largest public sector contracts. The company, owned by Czech billionaire Karel Komárek, has encountered repeated problems as it attempts to fulfil a pledge to modernise the technology that underpins the lottery. A succession of setbacks has led to a fall in sales and profits, reducing the amount of money handed over for charitable causes. In March, The Telegraph revealed that the lottery was facing a £2bn shortfall in donations in its maiden year under Allwyn. When Allwyn took over the fourth licence it made an ambitious promise to more than double donations from £17.9bn under predecessor Camelot to £38bn. Players have been told that they will be unable to check tickets or numbers in shops across Britain from Saturday evening until Monday morning while the lottery's systems are offline. Online accounts, the National Lottery website and its phone app will also be down. The update is set to take place immediately following Saturday's Lotto and Thunderball draws. Allwyn's UK chief has hailed the changeover, in which the lottery's gaming and retail systems will be transferred to new platforms, as a world-first. 'There isn't anywhere in the world that this scale of project has ever been done. No other retailer has 43,500 stores,' Andria Vidler said recently. 'This is a once-in-a-generation opportunity to deliver the National Lottery that the UK deserves. We're making unprecedented and much-needed changes, which will move us closer to achieving our vision for The National Lottery,' she added this weekend. The upgrades include the delivery of more than 30 new systems and the transfer of tens of thousands of retailer records and millions of transactions. In the build-up, 10 weeks of technical rehearsals have been carried out.
The Independent
an hour ago
- The Independent
Jinko Tiger solar panel review: best for high output in low light conditions
In this Jinko Tiger review, we take a closer look at one of the best-performing solar panels for UK homes, particularly when it comes to output in low-light conditions. The Jinko Tiger solar panel is a strong contender for anyone looking to cut their energy bills and boost their home's energy independence, especially in the UK's notoriously unpredictable weather. As solar power becomes more popular across the UK, homeowners are increasingly searching for the best solar panels that balance efficiency, cost, and durability. With so many unfamiliar brands and similar specs across the market, it's easy to feel overwhelmed. That's why this review helps you decide if the Jinko Tiger solar panel is right for your home and whether solar panels are truly worth the investment. Many panels now offer similar specifications on paper — comparable power output, 25- to 30-year lifespans, and sleek all-black designs. But with installation often representing the largest part of the overall cost of solar panels, and British weather posing its own set of challenges, the stakes for getting the right system are high. The boom in commercial solar farms has helped push the technology forward. Installation is still the biggest cost, so it pays to invest in long-lasting panels. Fortunately, costs have fallen dramatically over the past two decades, especially as China has scaled up manufacturing and innovation. But fitting panels still involves scaffolding, labor, and additional equipment to connect to your home mains, so it's wise to factor in total system cost, not just the panel price, when choosing the best solar panel installers. Why choose the Jinko Tiger? Price, installed: £1250 per kW Efficiency: 22 per cent Wattage per panel: 440W Type: N-Type Made in: China and Malaysia, US and Vietnam Degradation: 87.40 per cent after 30 years Warranty: 25 years for the product itself, 30 years for the degradation figure Founded in 2006, Jinko Solar has grown into one of the world's largest solar panel manufacturers. It's a Tier-1 producer, meaning it's been established for more than five years, is financially stable, and uses advanced, automated manufacturing techniques. The company is listed on the New York Stock Exchange, offering greater transparency than many of its competitors. It's also invested in solar infrastructure, including a 20% stake in one of the world's largest solar farms in the UAE. Jinko is a member of the Solar Module Super League, a group of seven firms responsible for around half of the world's panel production. This is a useful guide on a company's financial strength, but as a consumer rather than an investor, you may have other priorities. That's why our Jinko Tiger review highlights a few of the panel's standout features: For the Jinko Tiger solar panels themselves, the stats are fairly middle of the road compared to others we have reviewed, but all our featured solar panels have good warranties, power output, efficiency and useable lifespan. But while the Jinko Tiger solar panel doesn't offer the very highest wattage on the market, its balance of efficiency, degradation rate, and price make it a solid choice for UK homes. You can also take confidence in Jinko's scale and track record. If your preferred installer works exclusively with Jinko Tiger solar panels, rest assured you're still getting a dependable, cost-effective product. A bit like flat-screen TVs, intense competition in the solar panel market means prices have dropped while quality has risen. Jinko benefits from this trend, offering panels with great low-light performance, ideal for the UK's overcast climate as well as early morning and evening sunlight. The panels use N-type cells, which degrade more slowly than standard P-type cells, so they maintain output better over time. They're also resistant to salt mist, making them a good choice for coastal homes that need extra protection. The panels weigh in at 22kg, a shade lighter than most, and measure 1.76m by 1.13m. They are 3cm thick. Pros: Strong low-light performance Reliable, well-established manufacturer Solid all-round efficiency and warranty Cons: Jinko Tiger panels deliver reliability and performance with robustness and high energy output in weak light conditions. They're a great choice for customers who want quality, affordability, and performance from one of the best solar manufacturers in the world Edward McKay at fitter Solar4Good How we compiled our guide To compile our list, we spoke to experts on the ground and have broken down the top-performing brands based on real-world value, not just technical specs. We've prioritised long-term performance, value for money, and the reputation of the best solar panel installers in the UK. And if you're wondering if solar panels are worth it for your home, this guide is designed to help you make a smart, informed decision that pays off over time, whether you're upgrading an old array or fitting solar panels for the first time. Most panels are guaranteed for 25 years and offer similar power output, size, efficiency and looks. So we've weighted our judgement towards cost and degradation, which describes how much power the cells will provide after a number of years. The higher the percentage, the better. Much of your decision will also depend on which installer you go with, as many have preferred brands they work with due to bulk purchasing. You'll also see a lot of unfamiliar Chinese names as you do your research, but many of these are Tier-1 manufacturers in clean energy with strong track records in quality and durability. Why trust us
The Sun
2 hours ago
- The Sun
Three major car brands slash £1,500 off EV prices in huge boost for millions of Brits
THREE major car brands have slashed the price of some of its electric cars by £1,500, giving a boost to millions of Brits. The move by the Volkswagen Group includes brands from Volkswagen Skoda and Cupra and comes ahead of the Government's new EV scheme. 4 4 A new Electric Car Grant will see taxpayers foot the bill for EVs costing under £37,000, and only models from brands that have committed to a so-called Science-Based Target (SBT) for emissions. The grant worth £650million in total, which was announced by the government recently, will see prices slashed for some fully electric cars although it is so far unclear which models will be eligible for £1.500 or £3,750 off their respective price tags. It will be dependent on a complex sustainability criteria which is not entirely clear. Transport Secretary Heidi Alexander confirmed the Government's new scheme last month. The Electric Car Grant will offer between £1,500 and £3,750 off qualifying electric vehicles, depending on how sustainably they are made. However, it's not available yet, as carmakers must apply for approval — a process that could take weeks. The Volkswagen EVs that come under the firm's new £1,500 'Grant Guarantee' include the ID.3 in Pure, Pro and Pro trim levels, as well as the ID.4 in both Pro and Pure versions but excluding the GTX from both. The grant of £1,500 means the entry-level ID.3 Pure Essential's price drops to £29,360 while the ID.4 Pure Match is reduced to £38,090. Meanwhile, the Skoda's brands covered by the grant are the Elroq and Enyag, in SE, SE L, Edition and SportLine trim. The grant means the Elrog's price will start at £30,010 while the Enyag begins at £38,190. Cupra's models covered by the grant is for the Born hatchback on V1, V2 and V3 trim levels, dropping the asking price to £34,190. The £1,500 'Grant Guarantee' for all three badges runs until August 31. Volkswagen, Skoda and Cupra all state the grant 'will honour the £1,500 grant on the vehicles specified, even if the government's grant is not awarded'. However, buyers won't be able to get both the 'Grant Guarantee' and the government's Electric Car Grant on any of the models, Auto Express reports. The move by the German car manufacturer follows similar deals or incentives from the likes of Hyundai, Alfa Romeo, Kia and Leapmotor. According to Auto Express, fewer than 50 new EV models would be eligible for the grant - provided they pass the necessary criteria. The scheme will also provide additional support for electric car purchases for Motability customers - as revealed in The Sun's recent report - offering substantial discounts. This has raised concerns among some critics, who argue that taxpayers may effectively be contributing twice - once through the Motability scheme and again through the EV grant subsidies. Furthermore, some welfare users have expressed difficulties with EVs, with issues such as limited home charging facilities and inadequate public charging infrastructure causing frustration for some. There are also several key points to keep in mind before you set out to choose your shiny new discontinued EV. Firstly, the scheme will not be immediately accessible - even though it officially launched on July 16. This is because car brands must apply for eligibility for the vehicles in their ranges, rather than buyers being able to register grants at the point of purchase. Also, not all grants will amount to £3,750 as the scheme adopts a two-tier system, with the value deducted from the recommended retail price (RRP) depending on how environmentally friendly the manufacturing process is for each model. According to the RAC, these restrictions encourage drivers to choose models that are not only cost-effective, but also more sustainable for the planet. Transport Minister Lilian Greenwood has warned that vehicles made in China may not be eligible. Speaking previously on the BBC's Today programme, she said factories powered by coal are unlikely to meet the Government's strict criteria. She added that only brands reaching minimum environmental standards will be approved for taxpayer support. 4 4
