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Holcim (HOLN) investor relations material
Holcim Q3 2026 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
9M net sales reached CHF 12,586m, up 5.2% organically; recurring EBIT was CHF 2,414m, up 11.8%, with a 19.2% margin, up 10 bps YoY.
Q3 net sales rose 15.5% in CHF and recurring EBIT 16.8%; FY 2026 recurring EBIT growth guidance was raised to 10%-12% organically.
Performance reflected pricing, cost discipline, portfolio mix, acquisitions and growth in sustainable and circular offerings.
Financial highlights
9M net sales were CHF 12,586m, up 5.7% reported and 5.2% organically; M&A added 2.2% and FX reduced growth by 1.4%.
9M recurring EBIT was CHF 2,414m, up 6.1% reported and 11.8% organically; M&A reduced growth by 4.0% and FX by 0.7%.
Q3 net sales were CHF 4,662m, up 5.1% organically; recurring EBIT was CHF 976m, up 12.2% organically. CHF growth was 15.5% and 16.8%, respectively.
Positive price over cost continued in every region for the 18th consecutive quarter.
Outlook and guidance
FY 2026 organic net sales growth is expected at ~5%, at the high end of NextGen Growth targets; recurring EBIT growth guidance is 10%-12%.
Further recurring EBIT margin expansion and free cash flow before leases of ~CHF 2bn are expected for FY 2026.
FY 2026 recycled construction and demolition materials volume growth target is >20%.
2027 cost inflation is forecast at mid-single-digit for raw materials, quarry and distribution, and mid-to-high single-digit for energy; hedging exceeds 70%, with mid-single-digit pricing expected to support positive price over cost.
- Upgraded 2026 guidance follows strong EBIT and net sales growth, driven by acquisitions and sustainability.HOLN
Q2 2026 - Double-digit EBIT growth, margin expansion, and Amrize spin-off drive strong 2025 results.HOLN
H2 2025 - H1 2025 saw double-digit EBIT growth, major spin-off, and strong sustainability momentum.HOLN
H1 2025 - Record Q3 EBIT and margin, strong growth, and sustainability initiatives support robust outlook.HOLN
Q3 2024 TU - Record EBIT and margin expansion in H1 2024, driven by sustainability and M&A.HOLN
H1 2024 - Targets 5–8% annual revenue growth and $8B+ free cash flow by 2028 post-spin-off.HOLN
CMD 2025 - Q1 2025: Net sales stable, recurring EBIT up 1.7%, margin at 19.1%, Amrize spin-off set for June.HOLN
Q1 2025 TU - 2030 targets: 3%-5% sales growth, 50/50 sales split, and >50% sales from low-carbon products.HOLN
Investor Day 2025 - Record EBIT, margin expansion, and robust 2025 outlook driven by sustainable solutions.HOLN
H2 2024
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Frequently asked questions
Experts in Building Materials
Holcim Ltd. is a Switzerland-based multinational company specializing in the production and supply of building materials. Established in 1912, the company's core offerings include cement, aggregates, ready-mix concrete, and other related products. Over its extensive history, Holcim has expanded its operations and now has a presence in over 70 countries worldwide. As the construction sector has seen various changes and advancements, Holcim has adapted its products and services to cater to both modern construction and sustainability requirements and has an emphasis on sustainability.
Growth From a Local Cement Producer
Founded in 1912 in the small town of Holderbank, Switzerland, Holcim Ltd. began as a local cement producer. Over the subsequent decades, its commitment to quality and innovation allowed it to expand beyond its Swiss borders, and by the mid-20th century, the company had established operations in multiple countries across Europe. Holcim's continuous expansion strategy, both organically and through strategic acquisitions, propelled it onto the global stage. In the 21st century, the company's growth was marked by mergers and partnerships, notably with Lafarge in 2015. As environmental concerns became prominent, Holcim adapted by focusing on sustainable building solutions and practices, something that has become a key focal point for the company.
Building Blocks
The company is a supplier of construction materials, specializing in cement, aggregates (such as gravel, crushed stone, and sand), ready-mix concrete, and asphalt. These products form the backbone of countless construction projects around the world. Holcim's cement varieties, for instance, are key ingredients in both residential and commercial buildings, infrastructure like bridges and roads, as well as in special applications requiring high resilience, such as dams. Their aggregates provide foundational stability for construction, while the ready-mix concrete is used in a myriad of structures, from sidewalks to skyscrapers. They compete with companies such as Heidelberg and CRH, but they also conduct joint projects with names such as Engie in various sustainability drives.
Building Sustainably
Holcim places a pronounced emphasis on sustainability, striving to integrate eco-friendly practices across its operations. Recognizing the construction sector's substantial carbon footprint, the company commits to reducing CO2 emissions and harnessing innovative technologies to produce low-carbon and carbon-neutral products. Holcim also invests in circular economy strategies, focusing on recycling and reusing materials to minimize waste.
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