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Investing.com -- The first quarter 2025 (1Q25) results for Amrize have been reported in an updated Form 10, which still lists Switzerland as the domicile of the headquarters. This detail could be a key factor in determining Amrize’s eligibility for inclusion in U.S. indices, given the company’s incorporation in Switzerland and operational base in Chicago.
Amrize’s 1Q25 sales were down 4% to $2,081 million. The decrease in volumes was 7.2%, while price increased by 2.3%. Foreign exchange rates negatively impacted the results by 1.2%, but the structure improved by 1.5% due to OX Engineered Products. The company attributes the volume weakness in 1Q25 to market volatility, interest rate fluctuations, unfavorable weather conditions that led to colder average temperatures, and industry-wide delays in construction and housing starts.
The adjusted EBITDA for 1Q25 was down 24.6% to $214 million, and the margin dropped 3 percentage points to 10%. During this period, Amrize reported a net loss of $87 million, compared to $44 million in the previous year. The group acquired a business for $9 million and invested $211 million in capital expenditures, compared to $642 million in 2024.
In terms of Building Materials, revenue trends appeared weaker than those of peers, with volumes of cement and aggregates down 12.5% and 11.5% respectively. Prices were in line with cement up 1.5% and aggregates up 8.5%. EBITDA was down 31% year-over-year, with margins down 3.2 percentage points year-over-year, attributed to operational leverage on the lower volumes.
The Building Envelope reported 1Q25 revenue volumes at -0.5%, impacted by adverse weather and a delayed start to housing activity, particularly impacting residential roofing. The decrease in price by 1.1% may lead to further discussion, especially due to lower pricing in commercial roofing. The 1Q25 EBITDA was down 10% and EBITDA margin was down 2.1 percentage points, with management citing lower pricing and volumes, as well as higher selling, general and administrative expenses.
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