Recently, the Big Data Research Institute of China Cement Network has made a comparative analysis of the operation and development of four overseas multinational cement groups, Holcim, Heidelberg, Cemex and Old Castle, in 2025. The data show that despite the differentiation of regional market demand and the change of energy cost, the actual business revenue of the above companies has increased, and through price control and comprehensive cost optimization, the net profit of each cement group has generally increased steadily. The detailed analysis is as follows:
First, the performance of global cement demand is divided, and multinational cement groups can achieve revenue growth
in 2025, excluding the base effect of exchange rate fluctuations and mergers and acquisitions/spin-offs. Four overseas multinational cement groups, Old Castle, Hairui, Heidelberg and Cemex, have achieved further growth in revenue scale.
Specifically, Old Castle Group's total annual revenue reached $37.45 billion, an increase of about 5.3% over the same period last year, continuing its good momentum of sustained growth in recent years. Among them, the basic building materials business, including cement and aggregates, achieved a total revenue of about $10.37 billion, an increase of 8.5% year-on-year, accounting for 27.7% of the group's total revenue.
Heidelberg Materials Group achieved revenue of 21.46 billion euros ( $24.26 billion), an increase of about 1.4% over the same period last year. The increase reflects the group's resilience across regional markets, against the backdrop of currency volatility and continued geopolitical uncertainty. Focusing on the cement business line, the total revenue of Heidelberg's cement business in 2025 reached 11.19 billion euros ( $12.65 billion), an increase of about 2.1% over the same period last year.
Cemex Group's total revenue for the year was about $16.13 billion, a slight increase of 0.4% over the same period last year. Among them, cement business revenue was about $7.69 billion, a further decrease of about 0.9% compared with 2024, mainly due to the drag of the North American market.
Holcim Group completed the spin-off of its North American business in June 2025, injecting all its North American assets and operations into Amrize Ltd, a newly established independent listed company, which was listed on the New York Stock Exchange. After the spin-off, the total annual revenue of Holcim's retained business fell to 15.72 billion Swiss francs ( $18.94 billion), which was 2.9% lower than same period last year, but excluding the impact of the spin-off, the organic growth rate in local currency reached 2.9%, and the actual operating performance remained stable. Among them, building materials business revenue totaled 11.56 billion Swiss francs ( $13.92 billion), a decrease of about 2.5% over the same period last year.
Figure 1: Revenue of Four Overseas Multinational Cement Groups in 2025 (Unit: USD million)
Data source: Cement Big Data (https://data.ccement.com/)
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