Holcim Ltd · SIX:HOLN
Holcim — Q3 2026 Earnings Presentation
28 slides from Holcim's earnings presentation, Oct 23, 2026
Slide 1: Q3 2026 Trading Update
Q3 2026 TRADING UPDATE 23 October 2026 MILJAN GUTOVIC | CEO STEFFEN KINDLER | CFO
Slide 2: Business Review
BUSINESS REVIEW 2 23 October 2026 Q3 TRADING UPDATE
Slide 3: Double-digit recurring EBIT growth, margin increase and guidance upgrade
DOUBLE-DIGIT RECURRING EBIT GROWTH, MARGIN INCREASE AND GUIDANCE UPGRADE CHF 12.6 bn +5.2% OG Strong net sales for 9M NET SALES 15.5% growth in CHF in Q3 CHF 2.4 bn +11.8% OG Double-digit organic growth in recurring EBIT for 9M RECURRING EBIT 16.8% growth in CHF in Q3 19.2% +10 bps Strong momentum i
Slide 4: 9M Regional Highlights – Europe
9M REGIONAL HIGHLIGHTS – EUROPE Key financials Robust net sales development Recurring EBIT up 5.1% organically, driven by Germany, Greece, driven by strict cost discipline and Romania, Spain and Switzerland impeccable execution of our strategy Highlights Agreement to acquire Fermacell, Commissioning
Slide 5: 9M Regional Highlights – Latin America
9M REGIONAL HIGHLIGHTS – LATIN AMERICA Key financials Net sales up 6.2% organically, Recurring EBIT margin of 30% and driven by growth in Mexico and positive price over cost driven by Central America operational excellence Highlights Continued expansion of Disensa Alternative fuel substitution1 incr
Slide 6: 9M Regional Highlights – Asia, Middle East & Africa
9M REGIONAL HIGHLIGHTS – ASIA, MIDDLE EAST & AFRICA Key financials Strong organic growth, with net Continued margin expansion sales up 7.9% and overproportional reaching 26.1%, up 100 bps, with recurring EBIT growth of >22% positive price over cost Highlights Continued portfolio optimization Commiss
Slide 7: Strong organic growth in net sales of 5.2%
STRONG ORGANIC GROWTH IN NET SALES OF 5.2% 9M Net sales CHF m and % change bridge 11 906 +5.2% +2.2% -1.4% 12 586 +586 +266 -172 9M 2025 Organic growth M&A FX 9M 2026 7 23 October 2026 Q3 TRADING UPDATE
Slide 8: Double-digit organic growth in recurring EBIT
DOUBLE-DIGIT ORGANIC GROWTH IN RECURRING EBIT 9M Recurring EBIT CHF m and % change bridge 2 275 +11.8% -4.0% -0.7% 2 414 +246 -91 -16 9M 2025 Organic growth M&A FX 9M 2026 8 23 October 2026 Q3 TRADING UPDATE
Slide 9: Further expansion of industry-leading margin
FURTHER EXPANSION OF INDUSTRY-LEADING MARGIN 9M Recurring EBIT and margin 18.3% 19.1% 19.2% 2 414 2 232 2 275 9M 2024 9M 2025 9M 2026 9M % 9M recurring EBIT (CHF m) recurring EBIT margin 9 23 October 2026 Q3 TRADING UPDATE Note: Comparative information is restated for discontinued operations
Slide 10: Well-diversified portfolio driving profitable growth
WELL-DIVERSIFIED PORTFOLIO DRIVING PROFITABLE GROWTH Asia, Middle East & Europe Latin America Africa 16.9% -30 bps 30.0% -120 bps 26.1% +100 bps +2.2% +5.1% +6.2% +4.6% +7.9% +22.3% 7 011 2 746 2 371 1 193 826 661 RECURRING EBIT MARGIN NET SALES RECURRING EBIT % ORGANIC GROWTH / DECLINE & VARIANCE T
Slide 11: Strategy Update
STRATEGY UPDATE 11 23 October 2026 Q3 TRADING UPDATE
Slide 12: Holcim to expand Building Solutions with acquisition of Fermacell
HOLCIM TO EXPAND BUILDING SOLUTIONS WITH ACQUISITION OF FERMACELL Established European provider of walling and flooring solutions with projected 2026 net sales of 1 around EUR 430 million 2 Premium brands fermacell® and Aestuver® expanding Holcim’s high-value Building Solutions 3 Well-positioned for
Slide 13: Fermacell at a glance
FERMACELL AT A GLANCE Superior network covering key markets in Europe ● >1 000 employees incl. >250 salespeople ● Headquarters in Düsseldorf, Germany ● R&D center in Bad Grund, Germany ● 6 production facilities Specialized fibre gypsum and cement-bonded boards Fibre gypsum boards (wall) Fibre gypsum
Slide 14: Integrated building solutions powered by premium brands
INTEGRATED BUILDING SOLUTIONS POWERED BY PREMIUM BRANDS ROOFING WALLING ELEVATE FOUNDATION FLOORING 14 23 October 2026 Q3 TRADING UPDATE Fermacell is subject to customary conditions and regulatory clearances, expected to close in H1 2027
Slide 15: NextGen Growth 2030 driving superior performance
NEXTGEN GROWTH 2030 DRIVING SUPERIOR PERFORMANCE • Enhancing our leading positions with our sustainable offering powered by premium brands* INDUSTRY-LEADING • Decarbonization and circular construction RECURRING EBIT driving profitable growth MARGIN • Expansion of high-value Building Solutions captur
Slide 16: Scaling sustainable offering to meet customer demand
SCALING SUSTAINABLE OFFERING TO MEET CUSTOMER DEMAND National Athletics center in Budapest, Hungary Built with ECOPlanet* 33% 43% 7.4 9M 2026 9M 2026 9M 2026 % of ready-mix concrete net sales % of cement net sales Volume of CDM (million tons) 32% 36% 5.6 9M 2025 9M 2025 9M 2025 16 23 October 2026 Q3
Slide 17: Driving growth with organic investments
DRIVING GROWTH WITH ORGANIC INVESTMENTS Čížkovice, Czech Republic Tilbury, UK Calcined clay line to scale sustainable New state-of-the-art facility offering Will meet rising demand for high-value building solutions Country’s first calcined clay unit 580k tons -30% 730k tons 30k tons ECOPlanet p.a. C
Slide 18: 11 value-accretive transactions closed
11 VALUE-ACCRETIVE TRANSACTIONS CLOSED Strengthening leadership in Kaktus Tower in Copenhagen, Denmark Built with ZinCo Expanding in high-value Building Materials Building Solutions Acquisitions Acquisitions • AFC Recycling • 3B France (construction demolition materials) France (ready-mix concrete)
Slide 19: Outlook
OUTLOOK 19 23 October 2026 Q3 TRADING UPDATE
Slide 20: Guidance 2026 upgraded
GUIDANCE 2026 UPGRADED ● 2026 growth at the high end with NextGen Growth 2030 targets: ○ ~5% organic net sales growth ○ 10%-12% organic recurring EBIT growth ● Further increase of recurring EBIT margin ● Free cash flow of around CHF 2 billion ● >20% growth in recycled construction demolition materia
Slide 21: Upcoming events and contacts
UPCOMING EVENTS AND CONTACTS Full-year Q1 2027 trading Annual General Half-year 2026 results update Meeting 2027 2027 results February 25 April 23 May 20 July 29 Holcim Investor Relations Email: [email protected] Phone: +41 58 858 87 87 Bernd Pomrehn Bénédicte Mayer Tia Oreskovic Head In
Slide 22: Appendices
APPENDICES 22 23 October 2026 Q3 TRADING UPDATE
Slide 23: Q3 organic net sales growth of 5.1%
Q3 ORGANIC NET SALES GROWTH OF 5.1% [CHF m and % change] 4 036 +5.1% +8.2% +2.4% 4 662 +199 +331 +96 Q3 2025 Organic growth M&A FX Q3 2026 23 23 October 2026 Q3 TRADING UPDATE
Slide 24: Q3 organic recurring EBIT growth of 12.2%
Q3 ORGANIC RECURRING EBIT GROWTH OF 12.2% [CHF m and % change] 836 +12.2% +2.4% +2.9% 976 +96 +20 +24 Q3 2025 Organic growth M&A FX Q3 2026 24 23 October 2026 Q3 TRADING UPDATE
Slide 25: Q3 Regional Overview
Q3 REGIONAL OVERVIEW Asia, Middle East & Europe Latin America Africa 19.4% -150 bps 29.1% +90 bps 26.8% +130 bps +3.9% +5.0% +6.3% +10.5% +6.8% +19.4% 2 628 1 032 862 512 302 247 RECURRING EBIT MARGIN NET SALES RECURRING EBIT % ORGANIC GROWTH / DECLINE & VARIANCE To external customers (CHF m) (CHF m
Slide 26: Holcim's ESG leadership recognized by ratings agencies
HOLCIM’S ESG LEADERSHIP RECOGNIZED BY RATINGS AGENCIES SUSTAINALYTICS RECOGNIZES HOLCIM AS #1 IN THE SECTOR A List, Climate & Water A Score, Leader AAA Only 4% of companies Best-in class in Leader among rated reached the double governance, scope 3 and construction A List in 2025 value chain engageme
Slide 27: Glossary
GLOSSARY Definitions • Sustainable offering: Holcim is scaling its sustainable • Constant scope: Excludes the year-over-year impact of offering - from ECOPact low-carbon concrete and acquisitions and divestments. ECOPlanet low-carbon cement to ECOCycle circular technology - across all of our markets
Slide 28: Disclaimer
DISCLAIMER By accessing this presentation (and the information contained herein), you agree to be bound by and liable for breach of the following terms and conditions: The presentation (and the information contained herein) is provided to you by Holcim Ltd (“Holcim”) and/or any of its subsidiaries o