Votorantim Cimentos ended 2025 with a net profit of BRL3.2bn, (US$609.9m) up 196 per cent compared to 2024. The company’s improved results in 2025 reflect its geographic and product diversification. Global net revenue was BRL29.4bn last year, a nine per cent increase compared to 2024, excluding the effect of changes in foreign exchange rates. The growth was primarily due to higher sales volume, positive price dynamics and increased revenue from new businesses. Cement sales volume totalled 37Mt in 2025, a five per cent increase compared to the previous year.
Adjusted EBITDA was BRL7bn, up seven per cent, in local currency, compared to 2024. This result highlights the company’s resilience and operational efficiency, which have consistently and consecutively progressed year after year. EBITDA margin in 2025 was 24 per cent, on par with 2024.
Last year, Votorantim Cimentos’ investments (Capex) totalled BRL3.7bn, up 14 per cent compared to 2024. This increase was enabled by the company’s robust financial discipline and is in line with its global strategy of investments in decarbonisation, competitiveness and new businesses. Regarding the BRL5bn investment plan for the period 2024-28 in Brazil, BRL2.7bn is already being invested in a comprehensive program for growth, decarbonisation and structural competitiveness.
Completed and ongoing initiatives include previously announced projects, such as new grinding facilities in Edealina (GO), Nobres (MT) and Salto de Pirapora (SP); investments in the modernisation of cement kilns at the Xambioá (TO) plant and the reactivation of a kiln in Laranjeiras (SE); the restart of cement grinding mills at the Esteio (RS) and Laranjeiras (SE) plants that had been idle; and operational and logistical optimization in the Southern region of Brazil, enabling a significant increase in product availability at the Rio Branco do Sul (PR) plant. Votorantim Cimentos estimates that these investments will add 3.7Mt of operational cement capacity per year, as early as 2026. In February 2025, the company announced the construction of a new mortar plant in Edealina (GO) with an annual production capacity of 300,000t, scheduled to start operations in mid-2027.
Performance by region
In Brazil, Votorantim Cimentos posted BRL14.5bn in net revenue in 2025, up 13 per cent compared to 2024, primarily due to higher sales volume, positive pricing dynamics and revenue growth from new businesses. The company’s adjusted EBITDA in Brazil was BRL2.8bn, up eight per cent compared to 2024.
In North America, net revenue for the region totalled BRL8.6bn in 2025, up four per cent compared to 2024, excluding the effect of changes in foreign exchange rates. This resulted from higher prices and the incorporation of results from the concrete and aggregates businesses acquired in 2025. Adjusted EBITDA was BRL2.3bn in 2025, up one per cent, excluding the effect of changes in foreign exchange rates.
Votorantim Cimentos’ net revenue in Latin America increased by 25 per cent in 2025, in local currency, compared to 2024 due to improved market dynamics in both countries, despite the challenging macroeconomic environment. Adjusted EBITDA for the region in 2025 was BRL251m, 56 per cent higher than in 2024, excluding the effect of changes in foreign exchange rates.
