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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Azelis Group
Azelis Group (AZE) investor relations material
Azelis Group Q3 2026 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 TU earnings summary22 Oct, 2026
Executive summary
Q3 revenue was €1.122bn, up 8.5% in constant currency and 8.2% organically; adjusted EBITA reached €114m, up 14.6% in constant currency and 14.3% organically.
Growth was broad-based, with high-single-digit organic growth in EMEA and the Americas and double-digit growth in APAC; Personal Care and Industrial Chemicals, especially CASE, gained momentum.
A €350m non-cash goodwill impairment was recorded in the Americas, following annual testing of businesses acquired in 2021 and 2023.
Financial highlights
Q3 gross profit rose 8.8% in constant currency to €263m; gross margin was 23.4%, up 6 bps year over year.
Adjusted EBITA was €114m, up 16.1% reported, 14.6% in constant currency and 14.3% organically; margin was 10.2%, up 54 bps in constant currency.
Excluding the €6m provision adjustment and FX, EBITA growth would have been 22% year over year; 2025 cost-saving programs continued to benefit costs.
9M revenue was €3.288bn, up 3.6% total and 4.9% in constant currency; adjusted EBITA was €347m, up 4.2% total and 6.1% in constant currency.
9M adjusted EBITA margin was 10.5%, up 13 bps; gross profit was €786m, up 5.7% in constant currency.
Outlook and guidance
FY 2026 positive adjusted EBITA growth remains expected, supported by Q3 momentum despite continued uncertainty and volatility.
Q4 working capital is expected to decline with usual seasonality; positive EBITA growth and lower working capital are expected to reduce year-end leverage toward 3.0–3.1x.
Medium-term objectives include mid-to-high-single-digit annual gross profit growth, high-single-digit adjusted EBITA growth, double EPS and ROCE above 11.5% by 2031.
Continued investment in digital, IT and AI is intended to improve efficiency across frontline and back-office teams.
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Latest events from Azelis Group
- Strong growth, margin expansion, and digital innovation position for high single-digit EBITA growth.AZE
Corporate presentation - Innovation, digitalisation, and sustainability drive growth and resilience in specialty distribution.AZECorporate presentation
- Revenue up 3.2% to EUR 2.2bn, margins expanded, and positive EBITA growth targeted.AZEQ2 2026
- Strong cash generation and APAC growth offset revenue and margin pressures amid volatility.AZEQ1 2026 TU
- Revenue up 1.3% to €4.1bn, net profit down to €113m, strong cash flow and four acquisitions.AZEH2 2025
- Revenue up 0.6% to €2.2bn, profit down 14.6%, but cash flow and EMEA growth remain strong.AZEH1 2025
- Stable revenue, margin gains, and acquisitions offset by lower profit and higher leverage.AZEH1 2024
- Q3 2024 saw organic growth and margin gains, with acquisitions driving resilient performance.AZEQ3 2024 TU
- Revenue and margins improved in 2024, with strong M&A activity and positive outlook for 2025.AZEH2 2024
Next Azelis Group earnings date
Q4 202618 Feb, 2027
Azelis Group
Next Azelis Group earnings date
Q4 202618 Feb, 2027
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Frequently asked questions
Azelis Group NV is a service provider in the specialty chemicals and food ingredients industry, delivering solutions across a broad range of sectors. The company operates through two main business segments: Life Sciences and Industrial Chemicals, catering to a diverse clientele. With a global presence spanning EMEA (Europe, the Middle East, and Africa), the Americas, and Asia Pacific, Azelis is well-positioned to serve its customers with specialized and high-quality products and services. The company's expertise in formulation, application, and technical service supports its partners in developing tailored solutions that meets the clients specific needs. The company is headquartered in Antwerp, Belgium, and its shares are listed on the Euronext Brussels.