* Q3 net profit after minorities 394 mln Sfr vs 405 f'cast
* Q3 operating EBITDA 1.214 bln Sfr vs 1.218 in poll
* Expects demand to rise in emerging markets
ZURICH, Nov 7 (Reuters) - Holcim is banking on rising demand for cement in emerging markets and North America to shield it from lower sales in Europe for the rest of 2012.
The world's second-largest cement maker by sales said net profit after minorities rose 10.5 percent in the third quarter to 394 million Swiss francs ($417.51 million), falling slightly short of the average analyst forecast in a Reuters poll of 405 francs.
Like its rivals Lafarge and HeidelbergCement , Holcim has grappled with higher energy costs and sluggish European construction markets and is raising prices for its customers to meet its targets.
The cement maker set out a cost-cutting drive in May to boost profit by at least 1.5 billion Swiss francs by the end of 2014, with at least 150 million of that in 2012.