Holcim mira a quotare la divisione nordamericana
Holcim Intends to take its North American Division Public
Holcim (HCMLY) has announced plans to publicly offer shares of its North American division in the United States, with the goal of fully separating it in the financial markets. With this action, the company aims to create the leading enterprise dedicated to construction solutions in that area. The company that will be introduced to the stock market is committed to promoting sustainable growth in the thriving North American region and increasing value for all parties involved. Following the offering of shares in the United States, Holcim expects to continue to be part of the Swiss Market Index and maintain its position as a leader in innovative and environmentally friendly construction solutions. Jan Jenisch has been appointed by the Board of Directors to oversee the imminent public offering of Holcim’s North American division in the United States.
Jan Jenisch, CEO and Director, stated: “Holcim has reached a new pinnacle in terms of financial strength and profitability, with industry-leading margins and a strong balance sheet. Our North American operations stand out as the leading provider of specialized construction solutions in the area. With the offering of shares in the United States, we aim to fully realize its potential to become the preferred partner for our customers in one of the most dynamic construction markets globally. Leveraging the regional infrastructure and construction boom, we intend to stimulate growth and generate value for our stakeholders.”
“Following the public offering of shares in the United States, Holcim will continue to push the boundaries of innovative and sustainable construction solutions. With a specific focus on reducing carbon emissions and strategic mergers and acquisitions as catalysts for profitable expansion, the company will continue to deliver high margins and attractive returns to shareholders.”
Public offering of the North American division
The publicly listed North American division will be the leading company specializing in construction solutions in the region, with a projected EBITDA margin exceeding 27% for the year 2023. This division has consistently shown a significant increase in profitability, with an average annual growth rate exceeding 20% and an EBIT growth of over 26%, on average, over the last four years. The company intends to adopt an aggressive growth strategy to surpass $20 billion in net sales and $5 billion in EBIT with the best margins in the industry by 2030. With over 850 advanced facilities, this division excels in sophisticated roofing systems, holds the top position in cement, and has a strong presence in both aggregates and precast concrete. Capitalizing on its leading market presence, the North American division is well-positioned to benefit from significant construction and infrastructure investments throughout the region.
The publicly listed entity will adopt a financial strategy and capital allocation priorities based on the US dollar, creating a unique and compelling investment profile. Focusing on serving North American customers and leveraging market opportunities, it will pursue more targeted strategic and operational objectives.
Holcim after the public offering in the United States
Following the public offering in the United States, Holcim aims to consolidate its dominant position in the innovative and environmentally friendly construction solutions sector, with a projected EBITDA margin of over 23% by 2023. The company aims to increase net sales to approximately CHF 22 billion, EBIT to over CHF 4 billion, and free cash flow to more than CHF 3 billion by 2030.
Based on its outstanding financial performance, the company will further its leadership in reducing carbon emissions and adopting circular economy principles as mechanisms for profitable growth, thereby promoting sustainable construction solutions for its clientele. The company will continue to transform its portfolio with prudent and value-added operations, including expansion into the lucrative solutions and products sector, with a particular focus on advanced mortars and insulating materials for repair and renovation projects.
After the public offering in the United States, Holcim will strengthen its ability to maximize value creation with a well-distributed footprint and leading market positions in Europe, Latin America, Asia, the Middle East, and Africa. It will maintain high margins, cash flows, and attractive returns for shareholders through dividends and share buyback programs, presenting an appealing investment profile.
Transaction details
Holcim is preparing for a full separation from the financial market and the public offering of its North American operations in the United States. The transaction is planned as a spin-off, and the definitive structure will be announced in the second half of the current year. Holcim intends to host Capital Markets Days for both entities during the same period.
The public offering in the United States is expected to be completed in the first half of 2025. Shareholder approval will be required at a special general meeting scheduled for the first quarter of 2025, in addition to other standard approvals.
After the public offering in the United States, Holcim should remain a component of the Swiss Market Index. Both entities will pursue customized financial strategies and structures to foster growth and value creation. The goal of the transaction is to unlock value by creating two distinct and compelling investment profiles with attractive returns for shareholders.
Goldman Sachs International and Perella Weinberg Partners have been appointed as financial advisors, while Skadden, Arps, Slate, Meagher & Flom LLP and Bär & Karrer AG provide legal counsel.
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– Holcim
– Offerta pubblica
– Divisione nordamericana
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