Holcim (HOLN) Q1 2026 TU earnings summary

Executive summary

• Achieved robust organic net sales growth of 3.9% and recurring EBIT growth of 8.3% year-over-year in Q1 2026, driven by premium and sustainable offerings, cost discipline, and operational excellence.

• Completed five M&A transactions in Q1, including the acquisition of Cementos Pacasmayo in Peru and a signed agreement for Colombia, expanding presence in Latin America.

• Confirmed full-year 2026 guidance, targeting 3–5% organic net sales growth, 8–10% recurring EBIT growth, and further margin expansion.

• Advanced sustainability initiatives, with ECOPact and ECOPlanet reaching new sales highs and recycled materials volume up 24%.

Financial highlights

• Net sales reached CHF 3,520 million, up 3.9% organically year-over-year; recurring EBIT was CHF 431 million, up 8.3% organically; recurring EBIT margin at 12.2%, down 90 bps due to scope effects.

• FX translation effects negatively impacted sales by 5.6% and EBIT by 5.5%.

• Divestments, including Nigeria, Iraq, Lebanon, and Cyprus, reduced total sales and EBIT.

• Free cash flow guidance for FY 2026 is around CHF 2 billion.

Outlook and guidance

• 2026 guidance reaffirmed: organic net sales growth of 3%-5%, recurring EBIT growth of 8%-10%, recurring EBIT margin expansion, and free cash flow of around CHF 2 billion.

• Over 20% growth in recycled construction demolition materials targeted for 2026.

• Upside to guidance possible if geopolitical risks stabilize; strong construction momentum expected in key markets.