Holcim achieves growth targets for 2025

While both sales and net income decreased in 2025, Holcim says it achieved its growth goals when adjusting for foreign exchange and divestments.

Sales decreased 2.9 percent to CHF 15.7 billion ($20.4 billion) compared to 2024 on a restated basis that excludes large mergers and the spinoff of its North American operations.

However, when removing the impact of foreign exchange, sales increased 3 percent. The same is true for the fourth quarter, as sales decreased to CHF 3.82 billion ($4.97 billion), but when adjusting for foreign exchange increased 3.4 percent compared to the same period in 2024.

Net income decreased 73.4 percent to CHF 387 million ($503.6 million). However, when accounting for divestments, Holcim reported a 3.9 percent increase in net income to CHF 1.78 billion ($2.32 billion).

Holcim also reported a 23.5 percent increase in the volume of recycled construction and demolition (C&D) materials to 8 million tons in 2025, up from 6.5 million tons in 2024.

“We delivered strong profitable growth in 2025 with a double-digit recurring EBIT (earnings before interest and taxes) increase in local currency and an industry-leading margin of 18.3 percent,” Holcim CEO Miljan Gutovic says. “Margin expansion was driven by strong cost discipline, operational excellence and the scaling up of our sustainable offering to meet increased customer demand.”

Holcim says it completed 21 transactions in 2025 to “sharpen its geographical footprint and focus on the most attractive markets and business segments,” including 18 acquisitions, evenly split between its building materials and building solutions segments.

Six of these deals came in the cement and aggregates industry, three occurred in the C&D materials industry, five in the building systems sector and four in the ready-mix concrete market.

The firm also agreed to acquire Xella, a European producer of sustainable and innovative walling systems, which is expected to close in the second half of 2026.

Holcim also closed three divestments in 2025 which included businesses in Jordan, Nigeria and Karbala Cement Manufacturing Ltd in Iraq. It also completed the spinoff of its North American operations, now operating as Amrize.

The firm’s building materials segment—which covers a range of cement and aggregates for customers, focusing on decarbonized cement and circular aggregates—reported sales of CHF 11.6 billion ($15.1 billion), a 2.5 percent decline compared to 2024, but a 4 percent increase when accounting for the impact of foreign exchange.

Holcim’s building solutions segment—consisting of energy-efficient building systems and high-performance concrete and surfacing—declined 3.7 percent to CHF 5.9 billion ($7.7 billion), but increased 0.7 percent when removing the impact of foreign exchange.