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Orsero (ORS) investor relations material
Orsero Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
H1 2025 delivered strong growth, with net sales up 13.6% to €845.2 million and adjusted EBITDA up 18.4%, driven by the Distribution BU across all geographies, especially Italy and the Iberian Peninsula, with France showing resilience.
The Shipping BU also saw increased revenues and margins despite higher dry-docking costs, maintaining high service quality amid challenging maritime conditions.
The Group maintained robust business performance and a stable financial position despite a complex macroeconomic and geopolitical environment.
The business model and financial structure enabled continued strategic investments and dividend payouts.
Financial highlights
Net sales reached €845.2 million (+13.6% vs H1 2024), with Distribution BU contributing €804.3 million (+13.7%) and Shipping BU €60.0 million (+3.5%).
Adjusted EBITDA was €48.4 million (+18.4%), with a margin of 5.7%.
Adjusted net profit rose to €20.9 million (+30.9%), and net profit to €19.7 million (+30.8%).
Cash flow from operating activities increased to €34.0 million (vs €23.6 million in H1 2024).
Net financial position stood at €111.3 million, including €53.3 million IFRS 16 liabilities.
Outlook and guidance
FY 2025 guidance revised upwards: net sales expected between €1,650–1,690 million, adjusted EBITDA €82–86 million, adjusted net profit €30–32 million, and investments in operating fixed assets €19–21 million.
Net financial position guidance unchanged at €110–105 million, with capex offsetting higher EBITDA.
ESG targets for 2025 include full employee sustainability training and 100% food safety certification for warehouses.
Management remains confident in medium- to long-term growth potential, supported by strong competitive positioning and financial structure.
Ongoing commitment to cost control, efficiency, and sustainability initiatives.
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