Fluidra
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Fluidra (FDR) investor relations material

Fluidra Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary26 Feb, 2026

Executive summary

  • Achieved 7% sales growth at constant FX and 9% adjusted EBITDA growth in 2025, with strong market share gains, margin expansion, and solid cash generation across all regions.

  • Completed final year of simplification programs, delivering significant margin expansion and strong cash generation; board proposed a dividend of €0.65 per share for 2025, up 8% year-over-year.

  • Strategic investments and acquisitions (Aiper, PowerPlastics, BAC, Pooltrackr, Variopool) executed to accelerate growth and foster differentiation.

  • Net operating expenses decreased despite inflationary pressures, and net debt was reduced from €1,131.6 million to €1,086.6 million.

  • Investments in R&D and digitalization increased, including a new global R&D center in China.

Financial highlights

  • Sales reached €2,184 million, up 3.9% year-over-year (7% at constant FX); adjusted EBITDA rose 5% to €501 million (22.9% margin); net profit increased to €176 million.

  • Adjusted net profit was €250 million, up 8%; adjusted EPS was €1.30, slightly below guidance due to higher depreciation.

  • Net debt reduced to €1,087 million, leverage ratio improved to 2.2x from 2.4x.

  • Gross margin stable at 56.6%; ROCE increased to 18% (+150 bps YoY).

  • Cash flow from operating activities rose to €342.6 million.

Outlook and guidance

  • 2026 guidance: sales growth of 3%-7% at constant FX, adjusted EBITDA margin of 23.3%-24.3%, and EPS growth of 4%-13%.

  • Efficiency programs and investments in IT, R&D, and digitalization are expected to support future growth.

  • Expect flat demand in residential new construction, low single-digit growth in residential aftermarket, and continued strength in commercial pool.

  • Moderate price increases and efficiency plan savings to offset tariff and inflation impacts.

  • Company plans to maintain leverage ratios between 2 and 2.5 and continue optimizing capital structure.

What are Aiper Inc's targets for Fluidra to gain majority?
Which countries need full Pillar 2 tax calculation?
What is the target Net Debt/EBITDA ratio range?
New efficiency plan: expected margin impact?
Aiper Phase 2: impact on robotic cleaner margins?
Market share gains: specific drivers and segments?
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Frequently asked questions

Fluidra, S.A., together with its subsidiaries, manufactures and markets accessories and machineries for swimming pools, irrigation, and water treatment and purification fir private and public customers worldwide. It operates through three segments: Commercial Swimming Pools, Residential Swimming Pools, and Water Treatment. The company offers pneumatic valve actuation systems; automatic control systems; heat pumps; remote-controlled pool covers; pool lighting, stainless steel ladders, safety handrails, skimmers, automatic cleaners filtration systems; and pumps, valves, and fittings under the AstralPool, AstralPool Guanajuatextil / HIEMAQ, AstralPool Bealer / Beal Aquecedores de Piscinas / Aqua Solar / TechniSol / Panartech / Aqua Rouyn brands.

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