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Holcim

Holcim is a leader in its market: As a market leader in cement, Holcim also enjoys a strong position in aggregates and ready-mix concrete with a globally diversified exposure. Developing markets account for 50% of total sales, with the majority of important countries having strong infrastructure needs.

Increasing cash generation: The company will deliver on the targeted revenue growth of at least 3-5% p.a. and disproportionately high EBIT growth in the next three years, driven strong end-market demand and economies of scale. An annual operating free cash flow in excess of CHF 3 bn will enable the company to expand into the more attractive asset-light businesses.

Portfolio transformation: With the acquisition of Firestone Building Products, Holcim has started the transformation towards a higher growth, less capital intensive, and more sustainable business, which represents a much more appealing investment proposition and justifies a higher valuation.