Ackermans & Van Haaren (ACKB) Q1 2025 earnings summary

Executive summary

• Solid start to 2025 with core participations performing well and guidance confirmed for higher net profit versus 2024.

• DEME delivered 10% year-over-year revenue growth, driven by Offshore Energy, and completed the strategic acquisition of Havfram.

• Delen Private Bank and Bank Van Breda saw total client assets rise 11% year-over-year, with positive net inflows despite market volatility.

• Nextensa achieved a 12% year-over-year increase in net result, supported by development projects and active financial management.

• SIPEF reported a 17.9% increase in palm oil production and expects full-year recurrent results to exceed 2024.

Financial highlights

• Net cash position at March 31, 2025: €335.6 million, down from €362.4 million at year-end 2024.

• AvH invested €21.8 million in Q1 2025, including additional shares in Nextensa, SIPEF, and Camlin Fine Sciences.

• DEME Q1 2025 turnover: €992.8 million, up 10% year-over-year; orderbook at €7.6 billion.

• CFE Q1 2025 turnover: €261.4 million, down 9.9% year-over-year; orderbook up 4% to €1.7 billion.

• Nextensa Q1 2025 net result: €7.8 million, up from €7.0 million in Q1 2024; debt ratio reduced to 39.99%.

Outlook and guidance

• Net profit for 2025 expected to be higher than 2024, with AvH confirming earlier guidance.

• DEME expects 2025 turnover and EBITDA margin at least in line with 2024, with CapEx projected at €300 million (excluding Havfram effects).

• CFE anticipates a moderate decline in turnover for 2025 but a net result close to 2024.

• Nextensa expects lower rental income due to divestments but continued like-for-like rental growth.

• SIPEF maintains full-year production guidance of ~430,000 tonnes of crude palm oil and expects improved recurrent results.