Holcim announce Q2 financial results

Miljan Gutovic, CEO: “I thank all of our 48 000 employees worldwide for their contributions to our excellent half-year results. Holcim is the leading partner for sustainable construction, and we are unlocking significant opportunities through our new NextGen Growth 2030 strategy – the foundation of a new era of growth and value creation.

“In H1, we delivered broad-based profitable growth with a double-digit increase in recurring EBIT, an industry-leading margin of 18.3%, and a significant rise in earnings per share. Margin expansion was driven by our high-value strategy, scaling up our sustainable offering to meet customer demand, and decarbonisation and circular construction driving profitable growth. Since the start of 2025, we have completed 11 value-accretive transactions with a focus on attractive markets.

“Holcim’s deeply embedded performance culture delivers superior financial returns and value creation for our people, our customers and our shareholders. For the full year, our guidance post spin-off includes delivering recurring EBIT growth of 6% to 10% in local currency with a margin of above 18%, and free cash flow before leases of around CHF 2 billion.”

Profitable growth continues

Net sales of CHF 7871 million in H1 2025 were up +1.8% in local currency compared to the prior year, with improving momentum in Q2.

Recurring EBIT for H1 2025 grew over-proportionally compared to net sales to CHF 1440 million, a rise of 10.8% in local currency versus the prior-year period and up 3% in Swiss francs. A 90 basis point increase in recurring EBIT margin to 18.3% was driven by scaling up Holcim’s sustainable offering to meet customer demand, with decarbonisation and circular construction also driving profitable growth.

Holcim’s earnings per share before impairment and divestments in H1 2025 were CHF 1.57, up 7.4% from the prior-year period.

Free cash flow before leases was CHF 156 million in H1 2025, compared to CHF 220 million in H1 2024, on track to achieve full-year 2025 guidance of around CHF 2 billion before leases.

On 23 June 2025, Holcim successfully completed the spin-off of its North American business. Following the spin-off, Holcim has embarked on its next growth phase with its NextGen Growth 2030 strategy, unveiled on 28 March 2025, to advance Holcim’s position as the leading partner for sustainable construction.

Focused investment in attractive markets

Holcim is continuing to invest in profitable growth in highly attractive markets, closing 11 value-accretive transactions since the beginning of the year.

Building Materials was strengthened with four acquisitions for the aggregates business: Tribex in Serbia; Klokotnitsa IM EOOD and Zhablyano AD, both in Bulgaria; and SA.RE.MER in France.

Building Solutions expanded with six acquisitions: Compañía Minera Luren SA in Peru; Algimouss in France and CPC AG in Germany, as well as an insulation solutions business in Poland for building systems; Horcrisa in Argentina and Société des Bétons de la Vallée de Seine (S.B.V.S.) in France for the ready-mix concrete business.

Holcim also closed the divestment of Karbala Cement Manufacturing Ltd in Iraq.

Sustainability driving profitable growth

Customer demand for Holcim’s sustainable offering continued to increase. In the first half of 2025, net sales of Holcim’s low-carbon ECOPact concrete increased to 31% of ready-mix net sales from 25% in the prior-year period, while net sales of ECOPlanet increased to 35% of cement net sales from 32% in H1 2024.

Advancing circular construction, Holcim increased the recycling of construction demolition materials by 35% compared to the prior year period. In May, Holcim broke ground for OLYMPUS, an EU-supported carbon capture and storage project in Milaki, Greece. OLYMPUS is being engineered to produce 2 million tons of near-zero cement per year, part of Holcim’s commitment to produce more than 8 million tons of near-zero cement annually by 2030.

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