Vicat (VCT) Q3 2026 TU earnings summary

Executive summary

• Q3 sales reached €1,087m, up 10.2% like-for-like and 9.6% reported, supported by emerging-market growth, US recovery and pricing.

• Nine-month sales were €3,124m, up 10.6% like-for-like and 8.6% reported; pricing and volume growth offset higher costs.

• FY 2026 like-for-like sales growth guidance rose to 8%–10%; EBITDA growth guidance remains 7%–9%.

• Exclusive negotiations began to acquire CEMEX ready-mix concrete and aggregates assets in Southeast France.

Financial highlights

• Q3 reported sales rose to €1,087m from €992m; FX reduced growth by 1.4 percentage points and scope added 0.7 points.

• Nine-month sales increased to €3,124m from €2,878m; FX reduced growth by 2.9 points and scope added 0.9 points.

• Nine-month sales bridge: price contributed €226m, volume €78m, FX -€83m and scope €25m.

Outlook and guidance

• FY 2026 like-for-like sales growth guidance increased to 8%–10% from 7%–9%; EBITDA growth guidance remains 7%–9%.

• Net CapEx guidance remains ~€290m for FY 2026.

• H2 EBITDA growth is expected to moderate versus H1 due to higher energy costs, tougher comparisons and elevated maintenance costs.

• Ragland and Egypt maintenance costs are expected to normalize from Q4; the medium-term EBITDA margin target is at least 20% over 2025–2027.

• US non-residential recovery and emerging-market activity are expected to remain supportive, while French residential construction remains subdued.