AlzChem Group (ACT) H2 2025 earnings summary

Executive summary

• Achieved consolidated sales of EUR 562.1 million in 2025, with EBITDA rising 11% to EUR 116.5 million and margin reaching a record 20.7%, outperforming a challenging European chemical industry environment.

• Net income increased 17% to EUR 64 million; EPS up 18.3% to EUR 6.28.

• Dividend proposal increased by 17% to EUR 2.10 per share.

• Major investments underway, including EUR 120 million creatine expansion and Nitroguanidine plant expansion.

• Free float in shares increased to 74%, boosting stock trading volumes.

Financial highlights

• Sales increased by EUR 8 million year-over-year, with major growth in the U.S. and Europe, mainly from specialty chemicals.

• EBITDA grew by EUR 11 million, outpacing sales growth; margin improved to 20.7% from 19% year-over-year.

• Net result rose 18% to EUR 64 million; EPS increased to EUR 6.28.

• Operating cash flow rose 30% to EUR 137 million, supported by EUR 60 million in customer grants and EUR 20 million higher working capital.

• Free cash flow remained positive at EUR 40.1 million despite higher investments; net cash position of EUR 31 million at year-end.

Outlook and guidance

• 2026 sales expected to reach EUR 600 million (+7%), EBITDA to EUR 126 million (+8%).

• Growth to be driven organically, especially by specialty chemicals, human nutrition, and defense.

• Major capacity expansions in creatine and defense to fuel double-digit percentage increases in sales and EBITDA from 2027.

• Assumes stable global economy, high electricity prices, and no major currency or tariff shocks.

• Maintenance shutdown of carbide furnace in H1 2026 to impact EBITDA by EUR 15 million.