France's Vicat H1 sales rise on emerging markets strength, lifts 2026 outlook

Vicat SA

29/07/2026 17:11

Overview
France building materials group's H1 sales rose 8% yr/yr, driven by emerging markets and US recovery
EBITDA for H1 up 10.8% with margin improving to 18%
Company raised 2026 guidance, now targeting 7-9% like-for-like sales and EBITDA growth

Outlook
Vicat raises 2026 sales growth target to 7%-9% like-for-like, previously slight growth
Company expects 2026 EBITDA growth of 7%-9% like-for-like, previously slight growth
Growth in H2 seen as more moderate due to less favorable base effects in key regions

Result Drivers
PRICE INCREASES - Co said price increases in most geographies offset higher energy and transport costs
EMERGING MARKETS - Strong momentum in Africa, Brazil, Egypt, and Kazakhstan drove sales and earnings growth
US VOLUME RECOVERY - Recovery in US volumes contributed to group performance, though profitability was affected by high maintenance costs

Company press release: ID:nGNE7QXXhF

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
H1 Sales
Beat
EUR 2.04 bln
EUR 1.95 bln (1 Analyst)
H1 EBIT
 
EUR 198 mln
 
H1 EBITDA
 
EUR 367 mln
 
H1 EBITDA Margin
 
18.00%
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the construction materials peer group is "buy"
Wall Street's median 12-month price target for Vicat SA is €91.50, about 48.3% above its July 28 closing price of €61.70
The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 9 three months ago

Reuters Recommended Reads
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July 29 - Eagle Materials Q1 revenue beats estimates on cement volume growth

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)