Vicat Group, the Euronext Paris-listed building materials producer with operations across 12 countries, has reported consolidated third-quarter 2026 sales of €1,087 million, representing a 10.2% increase on a like-for-like basis and 9.6% on a reported basis. The French cement, ready-mixed concrete, and aggregates group has upgraded its full-year 2026 sales growth guidance to between 8% and 10% on a like-for-like basis, up from its prior target of 7% to 9%, whilst confirming its EBITDA growth target of 7% to 9%. Separately, Vicat announced it has entered into exclusive negotiations to acquire CEMEX's ready-mix concrete and aggregates assets in the Southeast of France, comprising 48 concrete plants and 9 aggregate quarries.

Key Points

  • Vicat SA (0MGJ), listed on Euronext Paris and a constituent of the SBF 120 Index
  • Q3 2026 consolidated sales reached €1,087 million, up 10.2% like-for-like, with nine-month sales totalling €3,124 million versus €2,878 million in the prior year period
  • 2026 sales guidance raised to +8% to +10% like-for-like; EBITDA guidance of +7% to +9% confirmed; net capital expenditure target of approximately €290 million unchanged
  • Investors should watch for French Competition Authority approval of the CEMEX acquisition and the settlement of the €100 million Schuldschein private placement in December 2026 and January 2027

Americas Recovery and Asia-Mediterranean Strength Drive Vicat's Q3 2026 Revenue Acceleration

The Americas region posted Q3 2026 consolidated sales of €283 million, up 15.4% on a reported basis and 8.7% like-for-like, supported by continued US cement volume recovery driven by non-residential demand — particularly data centre construction — and strong pricing momentum in Brazil. The Asia-Mediterranean region, covering India, Kazakhstan, Turkey, and Egypt, delivered the strongest like-for-like growth of 27.6% in Q3, reaching €301 million. Africa contributed €105 million, up 26.9% on a reported basis, led by Senegal and Mali. Europe was the sole region to decline, with consolidated sales of €398 million falling 2.9%, partly attributable to summer heatwave disruption to French and Swiss construction sites.

Proposed Acquisition of CEMEX's Southeast France Concrete and Aggregates Network

On 1 October 2026, Vicat announced it had entered into exclusive negotiations to acquire CEMEX's ready-mix concrete and aggregates operations in the Southeast of France. The transaction encompasses 48 concrete plants and 9 aggregate quarries located across the Rhône Valley and the Provence-Alpes-Côte d'Azur region. The announcement states the assets are geographically complementary with Vicat's existing French operations and are expected to generate industrial, commercial, and logistical synergies alongside its French cement business. The acquisition is expected to complete before 31 December 2026, subject to approval by the French Competition Authority. The company did not disclose the financial terms of the transaction in the announcement.

Vicat Launches €100 Million Schuldschein Private Placement to Diversify Funding

Vicat announced the launch of a Schuldschein private placement for an initial amount of €100 million, which may be increased subject to investor demand. Launched on 3 November 2026, the placement is structured in two tranches with maturities of three and five years, available in euros or Swiss francs, with the majority issued in euros at a variable rate indexed to six-month Euribor. Bayerische Landesbank, BNP Paribas, and Crédit Agricole CIB have been appointed as co-arrangers. Settlement will occur in two stages: 17 December 2026 and 8 January 2027. The company states proceeds will be allocated to general corporate purposes and will support financial flexibility as it pursues its acquisition strategy.

Vicat's 2026 Outlook and Medium-Term Financial Targets Following Guidance Upgrade

Vicat confirmed its upgraded 2026 guidance alongside medium-term targets, including a financial leverage ratio of between 1.3x and 1.5x for the 2026–2027 period — taking into account the proposed CEMEX acquisition — and an EBITDA margin of at least 20% across the entire 2025–2027 period. The company cautioned that EBITDA growth in the second half will be more moderate than the first half, citing less favourable base effects in Brazil, Turkey, Egypt, and the Senegal aggregates business, rising energy costs, and elevated maintenance expenditure at certain facilities. Full-year 2026 results are scheduled for publication on 15 February 2027.