Holcim Ltd
HOLN: XSWX (CHE)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| CHF 57.00 | Kyngdyq | Slxdynzq |
Raising Our FVE Following Holcim’s Strong Start to the Year and Upgraded Guidance
Business Strategy and Outlook
The merger between Lafarge and Holcim in 2015 created the largest producer of building materials and introduced significant exposure to perceived faster-growing emerging markets, albeit with lower barriers to entry. However, the recent divestment of the Indian cement business (the group's second-largest geographic market) and a series of acquisitions focusing on lighter building materials have transformed Holcim's exposure to be predominantly geared toward mature markets.