Holcim reveals 2025 results

Holcim
Image: Holcim

Holcim has reported higher earnings and cash flow for the 2025 financial year, with the company pointing to margin expansion and operational discipline despite varied demand conditions across its markets.

The company recorded net sales of CHF 15.724 billion, up 3 per cent in local currency compared with 2024. Recurring EBIT increased 10.3 per cent in local currency to CHF 2.876 billion, lifting the recurring EBIT margin to 18.3 per cent. Free cash flow reached CHF 2.154 billion, with a cash conversion ratio of 54 per cent.

Holcim chief executive officer Miljan Gutovic said the results reflected continued execution of the company’s NextGen Growth 2030 strategy.

“In 2025, we delivered strong profitable growth with double-digit recurring EBIT growth and industry-leading margins,” Gutovic said.

“This performance reflects our disciplined cost management, our focus on value over volume and the strength of our diversified portfolio across markets.”

Gutovic said the company’s ability to generate cash remained a priority. “We achieved a strong level of free cash flow with a high cash conversion, giving us the flexibility to invest in growth, pursue value-accretive acquisitions and return capital to shareholders, while maintaining a solid balance sheet.”

Regionally, Europe delivered double-digit recurring EBIT growth in the fourth quarter and expanded margins for the year. Latin America maintained a recurring EBIT margin above 30 per cent, supported by pricing discipline and operational performance. The Asia, Middle East and Africa region also recorded profitability improvements.

Sustainability initiatives continued to form part of Holcim’s growth strategy. The company increased the use of recycled construction and demolition materials by 23.5 per cent to 8 million tonnes during the year, while sales of its low-carbon concrete and cement ranges expanded.

“Our sustainable solutions are gaining traction with customers,” Gutovic said.

“By scaling up circular construction and low-carbon products, we are responding to market demand and advancing our decarbonisation roadmap at the same time.”

Holcim completed 21 strategic transactions in 2025 to strengthen its portfolio in higher-growth segments. For 2026, the company expects organic net sales growth of 3 to 5 per cent and recurring EBIT growth of 8 to 10 per cent, alongside further margin expansion and continued strong cash generation.

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