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Viscofan (VIS) investor relations material
Viscofan Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record highs in revenue (€1,252M, +4.0% YoY), EBITDA (€290M, +1.6% YoY), and net profit (€159.9M, +1.8% YoY) despite adverse forex and cost pressures, driven by strong volume growth and successful execution of the Beyond'25 plan.
Launched new Beat'30 strategic plan targeting accelerated growth, profitability, and sustainable value creation.
Expanded market share and substantial volume growth across all casing technologies and regions, with strong momentum in cellulose and collagen casings.
High cash generation enabled increased shareholder remuneration, including a 77% higher dividend versus 2021 and a proposed €3.25/share (+3.5% vs. 2024), with flexible options and share cancellation to avoid dilution.
Concluded Beyond25 plan with all-time financial records and expanded operating cash flow.
Financial highlights
Like-for-like revenue growth of 6.1% and EBITDA growth of 6.2% year-over-year, excluding forex and consolidation impacts.
EBITDA margin stable at 23.2% (0.0 p.p. like-for-like), despite inflation in collagen hides cost; like-for-like margin at 23.7%.
4Q25 revenue up 3.1% YoY, EBITDA down 9.1% YoY, but like-for-like EBITDA up 3.2%.
Net profit for 2025 reached €159.9M (+1.8% YoY), supported by recovery of tax losses in the US and a lower effective tax rate (10.1%).
Net bank debt increased to €206.1M (from €146.9M), mainly due to higher shareholder remuneration and share buybacks.
Outlook and guidance
Beat 30 strategy targets €1,800M revenue and €450M EBITDA by 2030, with a 25% EBITDA margin.
2026 guidance: revenue €1,310–1,340M (+5–7%), EBITDA €305–314M (+5–8%), net profit €165–170M (+3–6%), despite expected adverse currency environment.
Focused growth capex of €300M (2026–2030), progressive dividend policy, and increased shareholder returns.
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