Heidelberg Materials reports Q2 revenue €6.04bn and narrows 2026 RCO range

Financial performance

Revenue rose by €361 million (6%) to €6,044 million and result from current operations (RCO) increased by €38 million (4%) to €1,086 million. The RCOBD margin was 23.4% versus 24.2% in the previous year. Adjusted earnings per share grew by €0.09 to €4.47 for the first six months of 2026.

Portfolio optimisation

On 1 April 2026 Heidelberg Materials completed the acquisition of significant BURNCO assets in Canada. On 19 May 2026 it acquired a 10% minority stake in AmeriTex Holding LLC (Texas). On 18 June 2026 the company increased its stake in Akçansa from 39.72% to 79.44%. As part of portfolio optimisation, the sale of Bukhtarma Cement Company LLP (Kazakhstan) was completed on 8 July 2026.

Sustainability and efficiency

The share of revenue from sustainable products rose to 38% in H1 2026 and specific net CO₂ emissions were 510 kg per tonne of cementitious material, in line with the prior year. In May Heidelberg Materials commissioned a 1.25 million tonne/year kiln at the Airvault plant, which can reduce the carbon footprint of its cement by almost 30% versus previous production. Construction of the Padeswood carbon capture facility in the UK is progressing according to plan; the project uses evoZero® and links to existing CCS activity.

Productivity, capital allocation and outlook

The Transformation Accelerator Initiative has delivered €440 million in savings to date and is on track to exceed the €500 million target by end-2026. The third tranche of a €1.2 billion share buyback (planned up to €450 million) was launched on 21 May 2026. The Managing Board specifies 2026 RCO at €3.40–€3.65 billion (previously up to €3.75 billion) and continues to expect ROIC slightly above 10%. Specific net CO₂ emissions are expected to be around the previous year’s level following the first-time consolidation of Akçansa.