Heidelberg Materials shares fell 2% after the German cement maker forecast 2026 operating profit below analyst expectations. The company's guidance midpoint of €3.4-3.75 billion came in 3.6% below consensus, with fourth-quarter revenue down 3% year-on-year across all regions.

The world's second-largest cement maker reported full-year 2025 RCO rose 6% to a record €3.4 billion, with revenue up 1% to €21.5 billion. North America proved the weakest performing region, with Q4 sales down 7.3% year-on-year and underperforming peers like CRH's Americas division which posted positive growth.

Heidelberg remains committed to its Transformation Accelerator initiative, which delivered €380 million in 2025 savings and targets at least €500 million by end-2026. The company also signed a €1 billion agreement to acquire Maas Group's construction materials business in Eastern Australia, though the weak profit forecast suggests challenges persist in the construction sector.