February 27, 2026 |
Malvern, PA
Sales up 2.1% and operating income up 3.8% in local currencies for 2025
- Improvement in Europe in H2, with growth of 1.1% in local currencies; outperformance in North America in a challenging market
- Strong growth in Asia and emerging countries, up 12.6% in local currencies
- Continued portfolio rotation (€1.2 billion in sales renewed in 2025), with notably the growth-compounding acquisitions of Cemix and FOSROC in construction chemicals (which saw overall growth of 15.9% in local currencies)
- Stable operating margin at 11.4% and good level of free cash flow at €3.8 billion
- Attractive shareholder return policy: dividend of €2.30 (up 4.5%) recommended for 2025; €402 million in net share buybacks in 2025
- “Grow & Impact” plan (2021-2025): all financial and strategic targets achieved
- Outlook: the Group expects an EBITDA margin of more than 15.0% in 2026, with the first half affected by the extreme weather conditions in Europe and North America since the start of the year