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Fabbrica Italiana Lapis ed Affini (FILA) investor relations material
Fabbrica Italiana Lapis ed Affini Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Year-to-date results as of September 2025 were below expectations due to significant macroeconomic headwinds, including sharp USD devaluation, tariffs, and supply chain disruptions, but Q3 showed sequential improvement and Europe returned to growth.
Core Business Sales for 9M 2025 were €460.9M, down 6.6% year-over-year (down 3.6% on a comparable FX basis), with profit attributable to owners at €20.6M, a 41.7% decrease.
Adjusted Group Net Profit was €36.5M, down from €43.5M in 9M 2024, impacted by FX losses and interest expenses.
Net financial position improved to €254.6M, a €67.0M reduction in debt, mainly due to the DOMS stake disposal.
Free cash flow to equity was negative €32.3M, compared to negative €0.1M in the prior year, impacted by tariffs, China reorganization, higher capex, and negative FX.
Financial highlights
Core business sales declined to €460.9M from €493.4M year-over-year, mainly due to weak USD and Mexican peso.
Adjusted EBITDA was €94.2M, down 9.0% year-over-year (down 4% on comparable FX and tariff basis), with margin stable at 20.4%.
Free cash flow to equity was negative €32.3M, impacted by seasonality, tariffs, China reorganization, and higher capex.
Net bank debt at €202.9M, improved by €63.1M year-over-year.
Capex totaled €12M in the first nine months, mainly in Europe and North America.
Outlook and guidance
Free cash flow to equity for FY 2025 is expected around €40M, despite ongoing macroeconomic instability from currency, tariffs, and reduced school funding.
Recovery in revenues and margins anticipated in 2026 as macroeconomic uncertainty and tariff policies stabilize, with positive expectations for Mexico and the US.
No price increases planned for 2026 in North America; supply chain efficiency and new tariff policies are expected to provide tailwinds.
Margins are expected to remain stable in 2026, with potential for improvement if volumes grow.
Continued focus on cost-cutting, operational streamlining, and process optimization is planned.
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