2025 closed with slight organic sales growth of 0.3% in a complex environment, meeting revised targets and launching a Rebound plan to restore profitable growth, targeting €200 million in recurring savings by 2027 and up to 2,100 positions affected globally.
Sales reached €8,169 million, with operating margin at 7.4% and net profit group share at €245 million, up from €232 million last year, which was impacted by a €190 million Competition Authority fine.
The Rebound plan focuses on innovation, digital marketing, operational efficiency, and organizational simplification.
Board proposes a stable dividend of €2.80 per share.
Sales reached €8,169 million, up 0.3% LFL, but down 1.2% reported; Consumer business up 1.1% LFL, Professional down 5.9% LFL.
Operating Result from Activity (ORFA/ORfA) fell to €601 million, down 25% year-over-year, with operating margin at 7.4% (down from 9.7%).
Net profit group share was €245 million (3.0% margin), up from €232 million prior year.
Free cash flow for the year was €124 million, with strong H2 generation of €337 million.
Net financial debt increased to €2.34 billion, with leverage at 2.7x (2.5x excluding the fine); target to return to 2x by 2027.
Priority for 2026 is to return to ORFA/OCFA growth and normalized free cash flow generation.
Financial leverage targeted to return to around 2x by 2027.
Midterm ambition: 5% annual organic sales growth and operating margin of 10%, progressing toward 11% before 2028.
Most Rebound plan savings to materialize in 2027, with limited impact in 2026.
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