ZURICH (Reuters). -Holcim beat analysts’ forecasts of recurring operating profits for the fourth quarter 2021. The world’s largest cement manufacturer said Friday that it expects growth to continue across all regions in this year.

Holcim (SIX) saw a 5.6% rise in recurring earnings (before interest and taxes) to 1.09 Billion Swiss Francs ($1.18billion) during the fourth quarter. This was better than what analysts had predicted at 1.06 Billion francs.

The Dec. 31 sales were 16.7% higher at 6.99 billion Francs than expected.

Holcim stated that it plans to grow its sales by 6% in 2022 on a comparable basis. This eliminates currency fluctuations and acquisitions.

After posting the figure of 3.26 Billion for 2021, it stated that it expects growth in recurring operating EBIT and free cash flow exceeding 3 billion Francs.

It proposed for 2021 a dividend in the amount of 2.20 Francs. This is an increase from 2.00 Francs for 2020.

Holcim is a supplier of concrete and aggregates as well as pre-cast concrete structures.

The company’s total net sales increased by 11.3% in 2021, while the company’s recurring profits reached an all-time high of 4.6 million francs.

Jan Jenisch, chief executive of Holcim said that it was a record-breaking year in 2021 for Holcim and reached new heights of performance. The thing that makes me proudest is the extraordinary resilience with which we managed to navigate the COVID pandemic.

German competitor HeidelbergCement (DE): The world’s 2nd-largest cement manufacturer, Thursday stated that it expected both core profit and sales to increase in 2022 due to global infrastructure programs and continued demand for homes.

($1 = 0.9230 Swiss francs)