Aliaxis (094124352) H2 2025 earnings summary

Executive summary

• FY 2025 revenue was €3.54 billion, down 6.8% like-for-like, reflecting softer market conditions, lower volumes, and price pressure, especially in the U.S.

• Recurring EBITDA dropped 30.8% like-for-like to €364 million (10.3% margin), mainly due to U.S. market declines and one-off events totaling €51 million.

• Recurring net profit fell 79.2% to €50 million, with a reported net loss of €67.7 million due to material one-off items.

• Major restructuring and cost reduction plans were launched, targeting over €125 million in mid-term savings.

• Positive cash flow of €63 million was achieved, reducing net financial debt by €50 million to €919 million.

Financial highlights

• Net sales: €3.54 billion, -6.8% like-for-like vs 2024.

• REBITDA: €364 million (10.3% margin), -30.8% like-for-like.

• Net recurring profit: €50 million, -79.2% vs 2024; reported net loss of €67.7 million.

• Fixed costs reduced by €58.1 million (-5%) to €1.08 billion.

• Capex reduced by €109 million to €197 million; working capital down €198 million to €609 million.

Outlook and guidance

• Market conditions expected to remain challenging in 2026, with gradual recovery anticipated in the second half as construction and infrastructure rebound.

• Continued focus on structural fixed cost reduction, disciplined capital allocation, optimized working capital, and cash generation to restore profitable growth.