Cement Net Report: Comparative Analysis of the Operation and Development of Overseas Multinational Cement Groups in 2024

Recently, the Big Data Research Institute of China Cement Network has made a comparative analysis of the business development of four overseas multinational cement groups, Holcim, Heidelberg, Cemex and Old Castle, in 2024. The data show that, thanks to the increase in sales prices and the decrease in energy costs, the gross profit margin of the core business of the above-mentioned companies has steadily increased, but after taking into account the non-recurring gains and losses, there are differences in the trend of net profit changes among the cement groups. The detailed analysis is as follows:

I. The increase and decrease of cement sales are different, and the revenue of related businesses has declined

. In 2024, the total revenue of three overseas multinational cement groups, Holcim, Heidelberg and Cemex, has declined, except that the Old Castle Group can still achieve revenue growth.

Specifically, Old Castle Group's total revenue reached $35.57 billion, an increase of about 1.8% over the previous year. Among them, the basic materials business (including cement and aggregate sales) achieved revenue of 9.56 billion US dollars, an increase of about 1.1% year-on-year.

Holcim's total annual revenue was 26.41 billion Swiss francs ( $30.01 billion), down about 2.23% year-on-year in local currency. Among them, cement business revenue fell to 13.76 billion Swiss francs ( $15.63 billion), down about 4.4% from the same period last year.

Heidelberg Group achieved operating income of 21.16 billion euros ( $22.89 billion), little change compared with 2023. In local currency terms, total revenue fell by only 0.1% year-on-year. Among them, cement business revenue was about 10.97 billion euros ( $11.87 billion), a year-on-year decline of about 2.2%.

Cemex Group's total revenue for the year was about $16.20 billion, down about 2.1% year-on-year. Among them, cement business revenue fell to $7 billion 870 million, a decrease of about 3.2% compared with 2023.

Figure 1: Revenue of Four Overseas Multinational Cement Groups in 2024 (Unit: USD million)

Data source: Cement Big Data (https://data.ccement.com/)