Excellent 2025 results, double-digit recurring EBIT growth with industry-leading margin of 18.3% Full-year net sales of CHF 15 724 million, +3.0% in LC 1 , up 3.4% in Q4Recurring EBIT of CHF 2 876 million, +10.3% in LC 1 , up 12.2% in Q4 Expansion of industry-leading recurring EBIT margin to 18.3%, +80bps Earnings per share of CHF 3.22, up 5.0% Free cash flow of CHF 2 154 million, cash conversion of 54% Proposed dividend of CHF 1.70, not subject to Swiss withholding tax, reflecting a payout ratio of 53% +23.5% recycled construction demolition materials to 8.0 million tons Miljan Gutovic, CEO: "I sincerely thank all of Holcim's over 45 000 employees for their outstanding work and our excellent 2025 results.With all 2025 targets achieved, our NextGen Growth 2030 strategy is in full execution."We delivered strong profitable growth in 2025, with a double-digit recurring EBIT increase in local currency 1 and an industry-leading margin of 18.3%.Margin expansion was driven by strong cost discipline, operational excellence and the scaling up of our sustainable offering to meet increased customer demand."Holcim completed 21 transactions in 2025 to focus on the most attractive markets.As previously announced, we signed agreements to acquire Xella, a European leader in sustainable and innovative walling systems, and to take a majority stake in Cementos Pacasmayo, a leading producer of building materials in Peru.Both transactions are subject to regulatory and customary closing conditions."Building on our strong 2025 results, we are guiding for 2026 toward net sales and recurring EBIT growth in line with NextGen Growth 2030 targets, as well as further expansion of our recurring EBIT margin, free cash flow of around CHF 2 billion, and a >20% increase in recycled construction demolition materials.
A Thu, study studied this question.