• Consolidated net revenue for the quarter was R$8.7 billion, up 15% in local currency compared to 3Q24.

• Consolidated adjusted EBITDA was R$2.4 billion, a 10% increase, excluding the effect of changes in foreign exchange rates, compared to 3Q24.

• Global cement sales totaled 10.6 million tonnes, a 6% increase compared to the third quarter of 2024.

• Investments (Capex) in the quarter were up 31%, totaling R$831 million, in line with the strategy to drive structural competitiveness, decarbonization and new business.

• In September, the credit rating agency Fitch Ratings reaffirmed Votorantim Cimentos’ BBB global credit rating, with a “stable” outlook, maintaining the company’s investment-grade rating.

• In November, the company issued R$1 billion in debentures, non-convertible into shares, in a single series, maturing in 2033.

Votorantim Cimentos, a building materials and sustainable solutions company, ended the third quarter of 2025 with double-digit growth in net revenue and operating results, driven by higher sales volumes and positive pricing dynamics, supported by geographic and product diversification. The company posted R$8.7 billion in global net revenue in the third quarter of 2025, up 15% compared to the same period last year, excluding the effects of changes in foreign exchange rates. The result reflects the positive dynamics in both sales volume and price across the established portfolio. In 3Q25, the company’s global cement sales totaled 10.6 million tonnes, a 6% increase compared to the same period in 2024.

Consolidated adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) in the third quarter was R$2.4 billion, up 10% in local currency compared to the same period in 2024. New businesses, in addition to cement, continued to drive our results, with an 11% increase in EBITDA in local currency compared to the same period in the previous year. The EBITDA margin in the third quarter was 28%, on par with 3Q24, excluding non-recurring items that positively impacted the third quarter of 2024.

Votorantim Cimentos ended the third quarter of the year with R$967 million in net profit, a 3% increase compared to the same period in 2024 if we consider only the company’s current portfolio.

Capex investments in the third quarter of the year totaled R$831 million, 31% higher than in the same period last year. This increase was driven by Votorantim Cimentos’ global investment strategy focused on modernization and competitiveness, in addition to projects linked to decarbonization commitments and new businesses. Sustaining and modernization projects and other investments accounted for 75% of the total consolidated Capex. The remainder 25% corresponded to investments in expansion projects.

R$2.4 billion of the R$5 billion planned to be invested in Brazil between 2024 and 2028 has already been invested. Key projects that progressed in the third quarter included the startup of a new cement mill at the Salto de Pirapora (SP) plant, which added 1 million tonnes per year to the site’s installed capacity. Another project was the inauguration of a used tire shredding facility in Cuiabá (MT), with the capacity to process up to 1,500 tonnes per month of used tires that will be co-processed and used as alternative fuel at the company’s local plant.

“We ended the third quarter with consistent growth in operating results, in addition to increased investments. We continued to make progress in competitiveness, decarbonization and new businesses, enabled by the strength of our company, despite an environment that was volatile and required a cautious approach,” said Osvaldo Ayres, global CEO of Votorantim Cimentos.

At the end of the third quarter of 2025, leverage, measured by the net debt/adjusted EBITDA ratio, was 1.78x, on par with 3Q24. In September, the credit rating agency Fitch Ratings reaffirmed Votorantim Cimentos’ BBB global credit rating, with a “stable” outlook, maintaining the company’s investment-grade rating.

“Votorantim Cimentos continues to invest without losing sight of its traditional financial discipline, demonstrated by the confirmation of its credit rating by Fitch. We have also maintained solid liquidity, enabling the company to meet its financial obligations for the coming years,” said Antonio Pelicano, Global CFO of Votorantim Cimentos.

In November, the company issued, in the domestic market, R$1 billion in debentures, non-convertible into shares, in a single series, maturing in 2033. This new fundraising transaction is in line with Votorantim Cimentos’ financial management strategy, focused on reducing costs and extending the debt profile.

Performance by Region

• In Brazil, Votorantim Cimentos’ net revenue in the third quarter of 2025 was R$4 billion, a 16% increase compared to the same period in 2024, primarily driven by positive sales volume and pricing dynamics. Adjusted EBITDA was R$927 million, up 9% compared to 3Q24, primarily due to increased net revenue and growth in new business, which were partially offset by higher costs.
• In North America, net revenue in the third quarter was R$2.8 billion, up 10% compared to 3Q24, excluding the effects of changes in exchange rates. Positive pricing dynamics and higher sales volume in the region contributed to the result. Adjusted EBITDA for the region in the period was R$930 million, a 3% increase in local currency compared to the third quarter of 2024, which was partially offset by higher costs.
• In Europe and Asia, net revenue in 3Q25 was up 12% compared to 3Q24, excluding the effects of changes in exchange rates, totaling R$1.3 billion. This result was driven by higher sales volumes prices. Adjusted EBITDA in the region in the period was R$447 million, up 29% in local currency compared to 3Q24, driven by improved operating results.
• In Latin America, net revenue in the third quarter of 2025 was up 39% in local currency compared to the same period in 2024, totaling R$334 million, driven by improved market dynamics in Bolivia and Uruguay. The region ended the quarter with adjusted EBITDA of R$81 million, 33% higher than 3Q24, excluding the effects of changes in exchange rates.

About Votorantim Cimentos 

Votorantim Cimentos is a building materials and sustainable solutions company with over 13,000 employees. Its building materials portfolio includes not only cements, but also concretes, mortars and aggregates. The company also operates in the areas of agricultural solutions, waste management and co-processing. Votorantim Cimentos’ sites are strategically located in proximity to the most important growing consumer markets in eight countries, in addition to Brazil: Argentina, Bolivia, Canada, Luxembourg, Spain, Turkey, United States and Uruguay. For more information please visit https://www.votorantimcimentos.com/

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