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2025 ANNUAL REPORT: STRONG PROFITABLE GROWTH

2025: A year of transformation 


Spin-off successfully completed. NextGen Growth 2030 strategy launched. Strong profitable growth delivered.

NET SALES
CHF

15.7 BN

+3.0% in LC year over a year 1

RECURRING EBIT
CHF

2.9 BN

+10.3% in LC year over year 1

RECURRING EBIT MARGIN
%

18.3 %

+80 bps year over year

1 Excluding large M&A

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I am honored to be part of a winning team in my first year as Chairman of Holcim, and I thank all our employees for their dedication in delivering these great results.

Kim Fausing | Chairman of the Board of Directors
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I sincerely thank Holcim’s
over 45 000 employees for their outstanding work and our excellent results. With all 2025 targets achieved, our NextGen Growth 2030 strategy is in full execution.

Miljan Gutovic | Chief Executive Officer

NextGen Growth 2030


Holcim delivered on all 2025 targets, driven by the disciplined execution of our NextGen Growth 2030 strategy, which anchors our commitment to industry-leading financial and sustainability targets for 2030.
 

Our Strategy

Our NextGen Growth 2030 strategy focuses on unlocking growth opportunities. By executing on our four strategic drivers, we will enhance Holcim’s industry leadership and achieve our 2030 targets.

Focused investment in attractive markets
 

18

VALUE-ACCRETIVE ACQUISITIONS

3

PORTFOLIO-OPTIMIZING DIVESTMENTS

We continued to strengthen our portfolio and invest in the
most attractive markets through value-accretive acquisitions
and divestments in 2025. 

By strengthening our leadership in Building Materials and expanding in high-value Building Solutions we are accelerating NextGen Growth 2030.

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Expanding high-value Building Solutions with Xella

Holcim has signed an agreement to acquire Xella, a European leader in sustainable and innovative walling solutions, to propel our high-value Building Solutions.

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Strengthening our Latin American presence with Cementos Pacasmayo

We’ve signed an agreement to acquire the majority stake in Cementos Pacasmayo, a leading building materials producer in Peru.

EUROPE


Sustainability drives profitable growth


Europe showcased the success of our high-value strategy, recording strong margin expansion with continued growth for low-carbon ECOPact and ECOPlanet, while we accelerated in decarbonization and circular construction. The region made a total of 14 value-accretive acquisitions.

8.5
CHF BN

net sales in local currency1

1.4
CHF BN

recurring EBIT in local currency1

+17
%

recurring EBIT margin

LATIN AMERICA


Strong performance across the region


In Latin America, we delivered double-digit net sales growth in local currency1 with a recurring EBIT margin above 30%. We made four value-accretive acquisitions in Argentina, Peru, Costa Rica, and in Mexico – where we have a very strong infrastructure project pipeline to accelerate growth from 2026.

3
CHF BN

net sales in local currency1

0.9
CHF BN

recurring EBIT in local currency1

+30.6
%

recurring EBIT margin

ASIA, MIDDLE EAST & AFRICA


Excellent performance led by North Africa


Asia, Middle East and Africa saw a double-digit increase in recurring EBIT in local currency1 and outstanding margin expansion, with strong demand in North Africa. In Australia, our joint venture business, Cement Australia, closed the acquisition of the cementitious division of BGC. In 2025, we further optimized our portfolio and exited two markets in this region, Nigeria and Jordan.

3.6
CHF BN

net sales in local currency1

0.9
CHF BN

recurring EBIT in local currency1

+24.6
%

recurring EBIT margin

1 Excluding large M&A.

Note: Azerbaijan, previously reflected under Europe, is now reported under the geographical region of Asia, Middle East & Africa to align with the new internal management structure. This change has been applied retrospectively, and prior-year figures have been restated accordingly.

SUSTAINABILITY DRIVING PROFITABLE GROWTH


Our sustainability plan is built on four focus areas to strengthen our leadership in sustainable construction.

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31 %

share of 
ready-mix concrete net sales

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36 %

share of
cement net sales

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8 Mt

Construction demolition
materials recycled

Our sustainability plan is built on four focus areas, each designed to strengthen our position as the leading partner in sustainable construction and deliver profitable growth.

1. SCALING OUR SUSTAINABLE OFFERING
 

Scaling our sustainable offering, including ECOPact and ECOPlanet, to meet our customers’ most ambitious goals.

Reaching more than 50% of net sales from ECOPact vs total ready-mix concrete net sales and more than 50% of net sales from ECOPlanet vs total cement net sales by 2030.

Sustainable offering tailored to customer demand 
and powered by premium brands that are circular, 
low-carbon, resilient, energy-efficient, and smart.

 

Note: ECOPact and ECOPlanet offers 30% lower CO2 emissions compared to ordinary (CEM I/OPC) concrete and cement.

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2. ADVANCING CIRCULAR CONSTRUCTION
 

Accelerating profitable growth in circular construction by increasing our construction demolition materials (CDM) volumes using our ECOCycle technology.

Reaching more than 20 million tons of CDM by 2030.

Scaling this technology in metropolitan areas, we can build cities from cities, creating high-value solutions that can save on valuable primary raw materials, minimize waste, and drive profitable growth.

 

Note: All 2020 baselines have been restated for material changes in scope. 
1Defined as products and solutions with ECOCycle inside containing at least 10% construction demolition materials.

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3. INNOVATION ACCELERATING DECARBONIZATION
 

Innovation is accelerating decarbonization, with the aim of of reducing Scope 1 emissions to below 400 kg CO2 net per ton of cementitious materials by 2030. To achieve this, we are focusing on three levers:

  1. Formulations: Developing cement and concrete mixtures with lower clinker content and increasing the use of alternative raw materials and binders. 
  2. Energy: Increasing the use of alternative fuels through Geocycle, investing in renewable energy sources, and improving energy efficiency in our operations. 
  3. Advanced technologies: Pioneering and scaling advanced technologies, with a focus on carbon capture.

 

Note: 2020 baseline has been restated for material changes in scope.

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4. BUILDING A NATURE-POSITIVE FUTURE
 

Building a nature-positive future by bringing nature into cities, while reducing freshwater withdrawal by 33% in our operations by 2030 versus a 2020 baseline:

  1. Water: Setting the industry’s most ambitious science-based freshwater reduction targets. 
  2. Biodiversity: Transformative rehabilitation measured by a science-based methodology developed with the International Union for Conservation of Nature (IUCN). 
  3. Nature-positive solutions: Offering a wide range of solutions that bring nature into cities.

 

Note: 2020 baseline has been restated for material changes in scope.

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EXPANDING HIGH-VALUE 
BUILDING SOLUTIONS


Expanding high-value Building Solutions is one of our NextGen
Growth 2030 drivers. We offer energy-efficient building systems, 
from foundation and flooring to walling and roofing.

Brügelmannstrasse High School in Cologne, Germany, is built with ECOPact with ECOCycle inside 

Walkways at Louvre Abu Dhabi, Dubai, were built using Artevia decorative concrete 

Europe’s first 3-D printed warehouse near Burgos, Spain was built using TectorPrint concrete ink 

This stunning business HQ in Villamartin de Campos, Spain was built using ZinCo’s green roofing systems

Performance culture and value creation


Our decentralized organization led by empowered leaders enables us to adapt swiftly to market opportunities and changing dynamics.

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428 empowered 

P&L leaders
 

>45 000 
engaged 
employees
 

UNITED BY

Image
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FULL YEAR 2025 RESULTS: Reporting Suite


 

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