Holcim Ltd. Double-digit organic growth in recurring EBIT of 11.8% with margin expansion and guidance upgrade
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Holcim Group Services Ltd / Key word(s): Quarter Results
Miljan Gutovic, CEO: “I thank all of our 50 000 employees worldwide for their contributions to our strong results in the first nine months of the year. Together, we continue to deliver on our NextGen Growth 2030 strategy with discipline and at a fast pace. “In the first nine months of the year, we achieved strong profitable growth with an industry-leading recurring EBIT margin thanks to increased customer demand for our high-value offering, strict cost discipline and operational excellence. Our momentum increased in the third quarter, with both net sales and recurring EBIT up double-digit percentages in Swiss francs. “Our agreement to acquire Fermacell1, announced in August, will expand Holcim’s European walling, flooring and fire protection portfolio, while broadening our integrated building systems and modular construction offerings. Holcim completed 11 value-accretive transactions in the first nine months, with 10 acquisitions and one divestment. “With these strong results, we upgrade our full-year 2026 guidance for organic growth in recurring EBIT to 10%-12%. We also expect around 5% organic growth in net sales, with a further expansion of our recurring EBIT margin and free cash flow of around CHF 2 billion.”
Delivering strong profitable growth
Net sales of CHF 12 586 million in the first nine months were up 5.2% organically compared to the same period in the prior year. In the third quarter, net sales increased 15.5% in CHF. Nine-month recurring EBIT grew 11.8% organically to CHF 2 414 million versus the prior-year period. In the third quarter, recurring EBIT increased 16.8% in CHF. Holcim reported a 10 basis point increase in recurring EBIT margin for nine months to 19.2%, with positive momentum in the third quarter driving the year-to-date margin expansion. Focused investment in attractive markets
Holcim continues to invest in highly attractive markets, both organically and through value-accretive M&A. Since the beginning of the year, Holcim closed 11 transactions, comprising 10 acquisitions and one divestment. Building Materials was strengthened with four acquisitions for the cement and aggregates business: in addition to Cementos Pacasmayo, Holcim acquired AFC Recycling and Cem’In’Eu Group in France, and Uranus Pluton SRL in Romania. Building Solutions expanded with six acquisitions: in addition to Xella, Holcim completed five acquisitions for ready-mix concrete: 3B and the ready-mix business of BHR in France, Jacobs NV in Belgium, Josef Klösters Kies & Beton GmbH in Germany, and the ready-mix business of Stevenson Group in New Zealand. Holcim also closed the divestment of its operations in Lebanon, including activities in Cyprus, and signed an agreement to divest its business in the Philippines. In August, Holcim entered into an agreement to acquire Fermacell from James Hardie Industries plc. Fermacell is an established European provider of walling and flooring solutions with projected 2026 net sales of around EUR 430 million. The transaction is subject to customary conditions and regulatory clearances and is expected to close in H1 2027. Sustainability driving profitable growth
Customer demand for Holcim’s sustainable offering2 continued to increase. In the first nine months of 2026, net sales of Holcim’s low-carbon ECOPact concrete3 increased to 33% of total ready-mix net sales compared to 32% in the prior-year period4, while net sales of ECOPlanet5 increased to 43% of total cement net sales versus 36% in the first nine months of 20254. Holcim is accelerating circular construction using ECOCycle technology6. In the first nine months of 2026, Holcim increased the volume of recycled construction demolition materials by a third to 7.4 million tons7 compared to the prior-year period.
Guidance 2026 upgraded
Holcim’s NextGen Growth 2030 strategy is expected to continue driving superior performance and value creation. Building on its strong nine-month results, Holcim upgrades its full-year 2026 recurring EBIT guidance:
Group Results by Product Line Holcim’s two customer-focused product lines are Building Materials and Building Solutions, both providing customers end-to-end solutions from foundation and flooring to walling and roofing, across the built environment from infrastructure and industry to buildings. Building Materials covers an extensive range of cement and aggregates for customers. Building Solutions comprises energy-efficient building systems and high-performance concrete and surfacing.
Regional segment performance
Europe Robust net sales development was led by Germany, Greece, Romania, Spain, and Switzerland. Recurring EBIT rose due to strict cost discipline and impeccable execution of our strategy. Organic investments included the launch of a calcined clay production line in the Czech Republic and a state-of-the-art cement production facility in the UK. There is a positive outlook with a strong infrastructure pipeline and the ongoing integration of Xella, with synergies of EUR 60 million in year three confirmed.
a French West Indies, previously reflected under Latin America, is now reported under the geographical region of Europe to align with the current internal management structure. This change has been applied retrospectively, and prior-year figures have been restated accordingly. Latin America Latin America delivered strong organic net sales growth of 6.2% in the first nine months, led by Mexico and Central America. The recurring EBIT margin of 30.0% was thanks to positive price over cost driven by operational excellence. Alternative fuel substitution8 is increasing, reducing exposure to energy price volatility. There is a strong backlog of infrastructure projects across the region, and the integration of Pacasmayo is in full execution, delivering synergies of USD 40 million ahead of plan.
a French West Indies, previously reflected under Latin America, is now reported under the geographical region of Europe to align with the current internal management structure. This change has been applied retrospectively, and prior-year figures have been restated accordingly.
The region delivered strong organic growth in the first nine months, with net sales up 7.9% and recurring EBIT growth of more than 22%. Positive price over cost drove margin expansion of 100bps to 26.1%. Holcim commissioned a first-of-its-kind carbon capture and underground mineralization pilot in the UAE. Further growth is expected from robust government funding for infrastructure build across Australia and North Africa, and from investments in Morocco for the 2030 FIFA World Cup.
Reconciliation to Group accounts Reconciling measures of profit and loss:
Alternative performance measures definitions Some alternative performance measures are used in this release to help describe the performance of Holcim. A full set of these alternative performance measures definitions can be found on our website. Analyst presentation The analyst presentation of the Q3 2026 Results is available on our website.
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About Holcim Holcim (SIX: HOLN) has the vision to be the leading partner for sustainable construction. With net sales of CHF 15.7 billion in 2025, we create value across the built environment from infrastructure and industry to buildings. Headquartered in Zug, Switzerland, Holcim has more than 50 000 employees in 45 countries – across Europe, Latin America and Asia, Middle East & Africa – and has been recognized as a Global Top Employer by the Top Employers Institute. Holcim offers high-value end-to-end Building Materials and Building Solutions, from foundation and flooring to walling and roofing – powered by premium brands including ECOPact, ECOPlanet, ECOCycle, and Ytong. Learn more about Holcim on www.holcim.com, and by following us on LinkedIn. End of Inside Information |
2420726 23-Oct-2026 CET/CEST