Switzerland: Holcim’s sales and earnings have risen in the first quarter of 2023 on a like-for-like basis despite the divestment of its India-based business in September 2022. Its net sales rose by 8% on a like-for-like basis to Euro5.84bn in the first quarter of 2023 from Euro6.57bn in the same period in 2022. Recurring earnings before interest and taxation (EBIT) grew to Euro503m from Euro626m. Sales and earnings increased, in real terms, in Europe and Latin America but earnings fell in North America. Both sales and earnings fell in Asia Middle East Africa. Holcim did not comment on the fall in earnings in North America but Reuters noted that US construction spending declined in February 2023 as the housing market coped with increases in the interest rate by the Federal Reserve.

Jan Jenisch, the chief executive officer of Holcim, said "This profitable growth was led by strong performances across our building materials businesses. Our teams continued our fast-paced execution, with 12 value-accretive acquisitions, including Duro-Last, completing our range of flat roofing systems. With strong underlying trends across all our businesses, we are confident we will close the full year strong.” He added that the group reached 16% of ready-mix concrete net sales with its ECOPact product and expanded its ECOPlanet product range with two calcined clay production facilities in France and Mexico. It also launched its ECOCycle technology platform with a target to beat a previous 2025 target of recycling 10Mt/yr of construction, excavation and demolition waste.