Switzerland: Holcim recorded sales of US$31.2bn during 2022, up by 8.8% year-on-year from US$28.7bn in 2021. Its recurring earnings before interest and taxation (EBIT) were US$5.08bn, up by 3% from US$4.93bn. The group's cement business recorded sales of US$17.5bn, up by 14% on a like-for-like basis. Its EBIT grew to US$3.53bn, up by 1% on a like-for-like basis.

In its Asia Pacific region, Holcim faced high cost inflation in India and reduced demand in China, but reported 'good performance' in Australia. In Europe, the group's cement volumes were ‘softer’ but 'strong pricing' offset cost inflation. It recorded 'strong profitable growth' in Latin America and 'over-proportional recurring EBIT growth' in Middle East - Africa and North America.

Chief executive officer Jan Jenisch said “As we enter 2023, we are continuing our fast pace. We’ve already made seven acquisitions in the first two months of the year, including Duro-Last, a roofing systems leader in the most attractive North American market. We also acquired German roofing leader FDT to expand our commercial roofing presence in Europe, as well as a range of bolt-ons across Europe and the US. I look forward to another year of continued profitable growth and fast-paced transformation, to become the global leader in innovative and sustainable building solutions.”