- Q1 revenue €4,536m; result from current operations €163m; RCOBD margin 10.7%.
- Transformation Accelerator saved €405m to date and targets ≥€500m by end-2026; new Airvault kiln commissioned to boost efficiency and cut CO₂.
- Acquired Maas Group construction business in Australia (40 quarries, >350Mt reserves, 22 ready-mix plants); increased Akçansa stake to 79.44%; share buyback programme €1.2bn (tranche 2 repurchased ~€400m) and proposed dividend €3.60 (+9%).
Q1 results
Revenue fell 4% to €4,536m (prior €4,715m); result from current operations (RCO) declined to €163m (prior €235m); RCOBD margin 10.7% (previous 11.8%).
Cost measures & efficiency
Transformation Accelerator delivered €405m in savings to date and targets at least €500m by end‑2026; new kiln at Airvault commissioned to improve efficiency and reduce CO₂; Paderborn cement plant closure announced in March 2026 and Skövde will shift most clinker production to Slite from 2027.
Portfolio moves
Acquired Maas Group’s construction business in Australia, including 40 quarries (>350Mt reserves), 22 ready‑mix plants, two asphalt operations and a recycling site; increased Akçansa stake to 79.44% after purchasing Sabancı’s 39.72% in April 2026; Akçansa operates three cement plants, 26 ready‑mix plants, five quarries and five seaport terminals.
Shareholder returns & outlook
Third tranche of a €1.2bn buyback programme to start in Q2 (tranche 2 repurchased ~€400m and cancelled Jan 2026); proposed dividend €3.60 (+9%); 2026 guidance confirmed with RCO €3.40–3.75bn, ROIC >10% and a slight reduction in specific net Scope 1 CO₂ versus 2025, while anticipating higher energy costs from the Middle East and stabilising demand through the year.
