2025 FY results

Guy Sidos, the Group’s Chairman and CEO, commented: 

“In a complex international environment characterized by headwinds and adverse exchange rate effects, the Group delivered solid results in 2025, following a record year in 2024. This performance underscores the resilience of our business model, which is built on a balanced presence across developed and emerging markets, as well as a local-to-local approach. It also demonstrates the importance of the long-term vision of our corporate strategy, and the unwavering commitment of our employees across 12 countries. In 2025, the Group achieved strong free cash flow generation for the third consecutive year and continued the disciplined execution of its roadmap, with an EBITDA margin of 20%, a significant reduction in net debt, and further progress on decarbonization. In this respect, the progress made toward obtaining European and French subsidies for VAIA, our flagship carbon capture project in France, marks an important milestone. The outlook for 2026 is positive, underpinned by the ramp-up of kiln 6 in Senegal, the integration of Realmix in Brazil, the TELT project and the first signs of a gradual recovery in France.”