Votorantim Cimentos reported lower third-quarter earnings as price increases failed to offset rising costs across its main markets, despite a modest increase in cement sales.

Global cement volumes rose one per cent year on year to 10.7Mt in July–September 2026. Net revenue totalled BRL8.5bn (US$1.51bn), increasing one per cent excluding exchange-rate movements.

Adjusted EBITDA declined seven per cent in local currency to BRL2.2bn, with the margin falling from 28 to 25 per cent. Net profit decreased 14 per cent to BRL833m. The company attributed the earnings pressure to cost inflation, geopolitical volatility and weaker performance from new businesses.

In Brazil, new cement grinding facilities at Edealina, Laranjeiras and Nobres entered operation, alongside kiln debottlenecking at Xambioá. Votorantim said the projects were performing above expectations. Its BRL5bn Brazilian investment programme for 2024–28 includes BRL3.3bn of announced or completed projects.

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The company also completed an industrial trial involving simultaneous hydrogen and oxygen injection into the kiln at Alconera, Spain. The initiative aims to enable thermal substitution rates above 90 per cent by increasing the use of waste-derived alternative fuels. Votorantim did not disclose hydrogen consumption, trial duration or quantified energy and emissions savings.

Quarterly capital expenditure increased six per cent to BRL877m, with 26 per cent allocated to expansion. Financial leverage improved to 1.71 times net debt/adjusted EBITDA, compared with 1.78 times a year earlier.

After the quarter, Votorantim signed a 10-year, US$70m financing agreement with the International Finance Corp to support modernisation and decarbonisation at Salto de Pirapora. It also raised US$150m through a separate five-year financing transaction for liability management and liquidity.