Compagnie d'Entreprises CFE (CFEB) investor relations material

Executive summary

• Delivered solid performance in a challenging market, leveraging a multidisciplinary business model for resilience.

• Operating income rose 40.3% to €44.9 million, with net income (Group share) at €33.5 million, up 39.6% year-over-year.

• Achieved record cash generation and a positive net cash position of €43.8 million, the highest in recent decades.

• All business segments contributed positively, with improved safety metrics and a focus on sustainability.

• Proposed dividend of €0.50 per share, a 25% increase from 2024.

Financial highlights

• Revenue: €1,042 million, down 11.9% year-over-year.

• EBIT: €44.9 million, up 40.3% year-over-year.

• EBITDA increased 26.3% to €63.0 million, representing 6.0% of revenue.

• Net income: €33.5 million, up 39.6% year-over-year.

• Order book: €1,633 million, stable year-over-year.

Outlook and guidance

• Positive medium- and long-term outlook, driven by growth in renovation, energy transition infrastructure, and complex construction projects.

• VMA expects revenue and results growth in 2026, supported by a strong order book and building technologies.

• Real estate development to focus on low-risk, high-potential projects; Kennedy Park in Luxembourg seen as a key driver.

• Construction & Renovation anticipates a slight turnover increase in 2026, focusing on operational performance and niche markets.

• Group net income in 2026 expected to be close to 2025, with strong cash position supporting growth opportunities.