Holcim, the parent company of the Heraklis Group, has released its first-quarter results, showing increased sales and operating profits.
Specifically, the key figures are as follows:
- Net sales grew organically by 3.9% to CHF 3,520 million. CHF
- Recurring operating profit (recurring EBIT) increased organically by 8.3% to CHF 431 million CHF
- The momentum in mergers and acquisitions (M&A) continues, with five strategic moves completed in the first quarter
- Completion of the acquisition of Cementos Pacasmayo and signing of an acquisition agreement in Colombia to accelerate growth in the attractive Latin American market
- 2026 estimates confirmed
Miljan Gutovic, CEO of Holcim, stated: “I would like to thank all Holcim colleagues for their dedication and contribution to the strong start to the year.
Holcim recorded strong organic growth in net sales, leveraging its leading positions in particularly attractive markets. The significant organic growth in recurring EBIT resulted from strict cost management, operational excellence, and increased demand for our premium brands and sustainable solutions. This led ECOPact and ECOPlanet products to reach new highs in market share within their respective categories.
By strengthening our ECOCycle circular technology, we increased the volume of recycled excavation and demolition materials by 24%.
Our disciplined M&A strategy continued with five deals that create value across all our regions of operation. In March, we completed the acquisition of a majority stake in Cementos Pacasmayo in Peru and signed an agreement to acquire building materials and solutions operations in Colombia. These investments strengthen our presence in the dynamic Latin American market. With our resilient and proven business model, we reaffirm our guidance for 2026.”
First-Quarter Performance Overview
Group Holcim – First Quarter
| | 2026 | 2025 (revised) | % change | Organic growth |
Net sales (CHF million) | 3,520 | 3,696 | (4.8) | +3.9% |
Recurring EBIT (CHF million) | 431 | 485 | (11.2) | +8.3% |
EBIT margin (%) | 12.2 | 13.1 | (90 bps) | |
Comparative figures have been restated due to discontinued operations.
Strong profitable growth
Net sales amounted to CHF 3,520 million, marking organic growth of 3.9%, with momentum accelerating in March. Recurring EBIT increased organically by 8.3% to CHF 431 million. The EBIT margin was impacted by changes in the scope of operations during the first quarter.
Targeted investments in attractive markets
Holcim continues to invest in high-growth markets and completed five value-creating transactions in the first quarter.
To strengthen the“Building Materials”segment, Holcim completed the acquisition of a majority stake in Cementos Pacasmayo, a leading building materials producer in Peru, with net sales of $594 million for 2025. At the same time, it proceeded with the acquisition of Uranus Pluton SRL in Romania.
The “Building Solutions”segment was strengthened by two acquisitions: Jacobs NV in Belgium and the ready-mix concrete business of the Stevenson Group in New Zealand.
It also completed the divestment of its operations in Lebanon, which include operations in Cyprus.
In March, Holcim signed an agreement to acquire building materials and solutions operations in Colombia from Cemex, which correspond to estimated net sales of approximately $360 million for 2026. The
transaction is subject to customary conditions and required regulatory approvals and is expected to close toward the end of the year.
Sustainability as a growth driver
Customer demand for Holcim’s sustainable product portfolio continued to grow. In the first quarter of 2026, net sales of the low-carbon-footprint ECOPact concrete accounted for 31% of total ready-mix concrete sales, compared to 29%¹ in the same period of the previous year, while net sales of ECOPlanet accounted for 39% of cement sales, compared to 35%¹ in the first quarter of 2025.
By strengthening the implementation of its ECOCycle circular construction technology, Holcim increased the volume of recycled excavation and demolition materials by 24%¹ compared to the same period last year.
¹ Q1 2025 figures have been restated due to discontinued operations and other material changes in the scope of consolidation.
Artificial Intelligence as a strategic accelerator for creating added value
Artificial Intelligence (AI) is a strategic accelerator for creating added value for Holcim, improving performance and enhancing customer-centric services.
Holcim aims to generate CHF 200 million in recurring EBIT benefits from leveraging AI by 2028, derived from both cost avoidance and cost savings. To this end, development investments of approximately CHF 20 million per year are planned in four key areas: production, logistics, commercial operations, and administration.
In total, 38 large-scale initiatives leveraging digital transformation are being implemented across the Holcim Group, including:
- HolcimM-Predict: Predictive analytics models using AI for equipment performance, aimed at optimizing maintenance efficiency
- Holcim Foresight: AI-powered forecasting models to optimize fleet and network utilization
- Holcim+: AI-powered digital customer platform for end-to-end planning, ordering, and delivery, with 24/7 real-time tracking
- Holcim Career Hub: An internal platform using AI that matches Holcim employees with opportunities within the Group, creating value and fostering talent development
2026 Roadmap
The NextGen Growth 2030 strategy continues to drive growth:
- 3%–5% organic sales growth
- 8%–10% EBIT growth
- Improvement in EBIT margin
- Free cash flow ~2 billion CHF
- >20% increase in recycled materials
Results by Business
Holcim’s two customer-centric product categories are Building Materials and Building Solutions, which together offer integrated solutions—from foundations and flooring to masonry and roofing — covering the entire built environment, from infrastructure projects and commercial applications to residential projects.
The Building Materials segment includes a wide range of cement and aggregates, with a focus on low-carbon cement and recycled aggregates. The Building Solutions segment includes energy-efficient building systems, as well as high-performance concrete and surface solutions.
Regional performance
Europe
Strong demand in March, with the use of alternative fuels rising to 70%. Infrastructure investments are shaping positive prospects, while several countries are seeing an increase in building permits for residential projects.
Latin America
Organic sales growth of 7.6%. Recurring EBIT remained at organically stable levels compared to the same period last year, with a margin of over 30%.
In Mexico, a social housing program calling for the construction of 1.8 million new homes, as well as infrastructure projects, is expected to accelerate growth. In Central America, there is strong demand for housing and infrastructure projects.
Asia, Middle East & Africa
Strong growth and a 26.3% increase in EBIT. Positive momentum in North Africa and Australia.
Infrastructure and residential development projects are expected to further boost growth in North Africa, while Australia is seeing strong momentum from major projects, such as the 2032 Olympic Games in Brisbane.