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
