Heidelberg Materials Ag · XETR:HEI
Heidelberg Materials — Q1 2026 Earnings Presentation
16 slides from Heidelberg Materials's earnings presentation, May 6, 2026
Slide 1: Q1 2026 Trading Update
Q1 2026 Trading Update Dr Dominik von Achten – CEO René Aldach – CFO 06.05.2026
Slide 2: Quarter impacted by harsh weather in US and Europe
Quarter impacted by harsh weather in US and Europe - Revenue at 4.5 €bn - RCO at 0.2 €bn - Positive price over cost mitigated by weather driven volume impact Transformation Accelerator Initiative (TAI): ~405 €m savings secured as of end of March 2026 Third tranche of 1.2 €bn share buyback program: t
Slide 3: Q1 2026 operational result
Operational result Q1 2026 operational result Revenue [€m] Operating EBITDA [€m] Operating EBITDA Margin Operating EBIT (RCO) [€m] -180 €m -72 €m -71 €m (-4%) (-13%) -113 bps (-30%) LfL: -2% LfL: -12% LfL: -30% 4,715 4,536 557 11.8% 235 484 10.7% 163 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Q1 2025 Q1 2026 Q
Slide 4: Q1 2026: Operating EBIT (RCO) bridge
Operational result Q1 2026: Operating EBIT (RCO) bridge [€m] -71 €m (-30%) -70 €m 235 -4 (-30%) 230 -87 21 -4 160 3 163 Q1 2025 RCO Currency Q1 2025 LfL RCO Net volume Price over cost Depreciation Q1 2026 LfL RCO Scope Q1 2026 RCO & Amort. 4 06.05.2026 Q1 2026 Trading Update | Dr Dominik von Achten
Slide 5: LTM EBITDA margin improved
Operational result LTM EBITDA margin improved Cement EBITDA margin Aggregates EBITDA margin Total Group EBITDA margin +110 bps +108 bps +53 bps 26.4% 27.5% 24.6% 25.7% 21.1% 21.6% March 2025 (LTM) March 2026 (LTM) March 2025 (LTM) March 2026 (LTM) March 2025 (LTM) March 2026 (LTM) 5 06.05.2026 Q1 20
Slide 6: Transformation Accelerator Initiative (TAI) fully on track
Operational result Transformation Accelerator Initiative (TAI) fully on track Programme successfully continues based Secured sustainable savings as of end of on defined roadmap March 2026 >500 €m Contribution from almost all countries based on defined and agreed action plan ~25 €m Transparent approa
Slide 7: Europe
Operational result Europe Q1 2025 Q1 2026 -115 €m -33 €m -37 €m (-5%) (-15%) (-49%) LfL: -5% LfL: -16% LfL: -51% 2,157 2,042 212 180 76 39 Revenue [€m] Operating EBITDA [€m] RCO [€m] EBITDA margins (Last 12 months rolling) +149 bps +111 bps +71 bps 28.0% 29.5% 19.1% 20.2% 19.7% 20.4% Cement Aggregat
Slide 8: North America
Operational result North America Q1 2025 Q1 2026 -9 €m -30 €m (-31%) -27 €m (-1%) LfL: -27% (N/A) LfL: +3% LfL: N/A 995 986 99 9 69 -18 Revenue [€m] Operating EBITDA [€m] RCO [€m] EBITDA margins (Last 12 months rolling) +141 bps -299 bps -39 bps 32.0% 33.4% 30.3% 27.3% 26.2% 25.8% Cement Aggregates
Slide 9: Asia – Pacific
Operational result Asia – Pacific Q1 2025 Q1 2026 -19 €m -10 €m -7 €m (-2%) (-8%) (-11%) LfL: +3% LfL: -4% LfL: -9% 835 816 129 119 69 61 Revenue [€m] Operating EBITDA [€m] RCO [€m] EBITDA margins (Last 12 months rolling) -103 bps +154 bps -7 bps 22.2% 21.1% 16.7% 18.3% 18.2% 18.2% Cement Aggregates
Slide 10: Africa – Mediterranean – Western Asia
Operational result Africa – Mediterranean – Western Asia Q1 2025 Q1 2026 -32 €m -2 €m -2 €m (-5%) (-2%) (-2%) LfL: -8% LfL: -4% LfL: -5% 586 554 135 133 106 104 Revenue [€m] Operating EBITDA [€m] RCO [€m] EBITDA margins (Last 12 months rolling) +331 bps +231 bps 30.4% 28.0% 27.1% 25.7% Cement Total
Slide 11: Business Outlook & Guidance
Business Outlook & Guidance Guidance 2026 Target RCO 3.40 to 3.75 €bn ROIC Above 10% CO2 emission Slight reduction CapEx Net 1.2 to 1.3 €bn In line with mid-term target: Leverage Around 1.5x Further increase in shareholder return though progressive dividend and share buyback 11 06.05.2026 Q1 2026 Tr
Slide 12: Appendix
Appendix
Slide 13: Scope & currency impacts
Appendix Scope & currency impacts Revenue Operating EBITDA Operating EBIT (RCO) Scope & currency Q1 2026 [€m] Scope Currency Scope Currency Scope Currency Europe 11 -11 3 -1 2 -1 North America 54 -94 4 -10 -2 -1 Asia – Pacific 9 -55 3 -8 2 -3 Africa – Med. - Western Asia 7 6 3 1 2 1 Group Service &
Slide 14: Operating result – Business lines
Appendix Operating result – Business lines Quarterly Figures Last 12 months Revenue Operating EBITDA Operating EBITDA Margin Operating EBITDA Margin Business line CEMENT [€m] Q1 25 Q1 26 Q1 25 Q1 26 Q1 25 Q1 26 Mar 25 Mar 26 Europe 1,095 1,025 -6.4% 157 150 -4.4% 14.3% 14.6% +31 bps 28.0% 29.5% +149
Slide 15: Disclaimer
Disclaimer Unless otherwise indicated, the financial information provided herein has been prepared under International Financial Reporting Standards (IFRS). All the figures included in this presentation are preliminary, unaudited and subject to revision upon completion of the Company's closing and a
Slide 16: Heidelberg Materials
Heidelberg Materials