Heidelberg Materials has narrowed its full-year 2026 earnings guidance after higher energy costs linked to the conflict in Iran weighed on its outlook, prompting the company to introduce a fuel surcharge and implement price increases across its North American and European businesses.
The Germany-based cement producer said it now expects its result from current operations (RCO) to reach between EUR3.4bn and EUR3.65bn (US$3.89bn-US$4.18bn) in 2026, compared with previous guidance of EUR3.4bn-EUR3.75bn. The revised range reflects rising costs for oil, gas and electricity following the outbreak of the conflict, as well as continued geopolitical and economic uncertainty.
Heidelberg Materials said energy prices had risen significantly since the end of February, although it did not quantify the financial impact on its operations. It added that persistent inflation and elevated financing costs are expected to continue weighing on residential construction activity in many markets.
To offset higher input costs, the company has introduced a fuel surcharge and announced price increases across its North American and European operations.
Despite the more cautious outlook, chairman of the managing board Dominik von Achten said the company was beginning to see early signs of a recovery in demand across its core markets.
2Q2026 RCO increased by 3.6 per cent YoY to EUR1.09bn (US$1.25bn), exceeding analysts' consensus forecast of EUR1.06bn. According to an analyst poll compiled by the company, Heidelberg Materials is expected to deliver full-year RCO of EUR3.51bn, representing growth of around four per cent compared with 2025.
