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Ibersol SGPS (IBS) investor relations material
Ibersol SGPS Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved 11.6% year-over-year turnover growth to €529.5M, driven by expansion in Portugal, Spain, and Angola, and strong performance in the Counters segment, especially KFC and Taco Bell brands.
EBITDA rose 38.4% to €132.5M, with margin up to 25.0%, aided by accounting changes for Barcelona Airport contracts.
Net income from continuing operations increased to €15.2M, up from €11.0M in 2024.
Opened 22 new restaurants and completed 33 renovations, with total units reaching 562.
Maintained a strong focus on sustainability, diversity, and employee development, with over 346,000 training hours and 36 nationalities represented.
Financial highlights
Turnover from continuing operations: €529.5M (vs. €474.3M in 2024).
EBITDA: €132.5M (vs. €95.7M in 2024), margin 25.0%.
Net income: €15.2M (vs. €11.0M in 2024).
Gross margin improved to 77.2% of turnover.
Personnel costs decreased to 30.4% of turnover despite wage pressures.
Net debt reduced to €167.3M, with gearing at 35%.
CAPEX: €37.2M, mainly for expansion and renovations.
Outlook and guidance
2026 GDP growth forecasts: Portugal 1.8%, Spain 2.2%, Eurozone 0.8%.
Geopolitical risks and inflation remain key uncertainties; tourism remains resilient.
New Barcelona Airport concession starts May 2026, with restructuring to be completed by 2027.
Continued expansion planned for KFC, Taco Bell, and Pret A Manger brands.
- Turnover up 14% to €394.8M, EBITDA margin 25.3%, net profit €11.7M, net debt down.IBS
Q3 202527 Nov 2025 - Turnover up 17.8% to €246.7M, EBITDA margin 23.1%, net profit €1.6M, equity impacted by CAPEX and buybacks.IBS
Q2 202515 Sep 2025 - Turnover up 11.7% to €346.4M, EBITDA margin 20.1%, net profit €9.1M, expansion ongoing.IBS
Q3 202413 Jun 2025 - Turnover and EBITDA up, but net profit down as airport concessions and expansion drive results.IBS
Q2 202413 Jun 2025 - Revenue up 13.4% to €474.3M, EBITDA margin 20.2%, net income €11.0M, expansion ongoing.IBS
Q4 20249 Jun 2025 - Turnover up 17.8% to €115.8M, but net profit declined to -€3.5M on higher costs.IBS
Q1 20256 Jun 2025
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