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Visual21 Oct 2025
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Moury Construct (MOUR) investor relations material
Moury Construct H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.H1 2025 earnings summary23 Sep, 2025
Executive summary
Revenue for H1 2025 reached €124.9 million, up 27.5% year-over-year, with net income rising 7.5% to €15.3 million.
Operating income increased by 5.1% to €18.2 million, while financial results benefited from gains on asset sales and positive fair value adjustments.
The group maintained a robust financial structure, with net cash at €118.2 million as of June 30, 2025.
Financial highlights
Revenue grew 27.5% year-over-year to €124.9 million; operating expenses rose to €107.7 million.
Operating margin was 14.5%, down from 17.5% a year earlier.
Net financial result was €2.99 million, mainly from asset sales and fair value gains.
Net income after tax was €15.3 million, up 7.5% year-over-year.
Net cash position stood at €118.2 million, slightly down from €119.6 million at year-end 2024.
Outlook and guidance
Order backlog reached €354 million as of August 31, 2025.
Management anticipates full-year 2025 results to exceed 2024, driven by higher activity volume and sustained operating margin.
Dividend policy to continue, with an ordinary dividend increase and a special €5.00 per share dividend expected for 2025 and 2026.
Why H1 operating margin decline vs. FY outlook?
What caused H1 negative operating cash flow?
How does order book support special dividend?
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Next Moury Construct earnings date
H2 202523 Mar, 2026
Next Moury Construct earnings date
H2 202523 Mar, 2026
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Frequently asked questions
Moury Construct is a Belgium-based construction company engaged in building and civil engineering projects for both public and private sectors. The company’s activities include residential, commercial, and industrial construction, along with renovation and restoration work. Moury Construct also undertakes infrastructure projects such as roadworks and utility installations. Its services cover project planning, execution, and site management, often operating as a general contractor or in joint ventures. The company is headquartered in Liège, Belgium, and its shares are listed on the Euronext Brussels.
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