Ackermans & Van Haaren (ACKB) Q4 2025 earnings summary

Executive summary

• Net consolidated profit rose 29% year-over-year to €592.5 million, driven by record contributions from DEME, Private Banking, and SIPEF.

• Equity increased to €5.7 billion, with equity per share up 10.3% to €174.45 and a 10.3% return on equity.

• Dividend proposed at €4.60 per share, up 21% from the previous year.

• DEME and Private Banks reinforced market positions through acquisitions and organic growth.

• Nextensa improved profitability and strategic repositioning via real estate divestments.

Financial highlights

• Net result for 2025: €592.5 million, up from €459.9 million in 2024.

• Revenue slightly decreased by 1% to €5.96 billion, but operating profit rose 36% to €651.8 million.

• Shareholders' equity: €5,701 million; net cash: €428.9 million at year-end.

• Gross dividend per share: €4.60 (vs €3.80 in 2024).

• Total client assets in Private Banking reached €87.5 billion (+13% YoY).

Outlook and guidance

• Board expects 2026 net profit to be roughly in line with 2025's record result.

• DEME anticipates turnover and EBITDA margin in 2026 to match 2025, with CapEx around €450 million.

• SIPEF targets 470,000 tonnes of palm oil and 55,000 tonnes of bananas in 2026, with continued investment.

• Nextensa maintains a strong balance sheet and high-quality development pipeline despite market uncertainty.

• DEME, Private Banks, and SIPEF anticipated to continue strong performance, supported by robust order books and asset growth.