Aquafil (ECNL) Q4 2024 earnings summary

Executive summary

• Profitability increased by 31% year-over-year, with EBITDA reaching €62.4 million in FY24 despite a 5.2% revenue decline to €542.1 million, driven by higher volumes, cost reductions, and strategic investments.

• ECONYL and regenerated products accounted for 55%–57% of fiber revenues, reflecting a strong sustainability focus.

• EMEA and Asia-Pacific regions posted positive results, while the US market lagged but showed signs of recovery in carpet fibers.

• A capital increase raised approximately €40 million, strengthening the balance sheet and supporting ongoing business plan execution.

• Strategic investments continued in industrial efficiency, technological innovation, and sustainability initiatives.

Financial highlights

• EBITDA margin improved to 11.5% from 8.3% in FY23; EBIT reached €3.3 million for FY24.

• Net loss improved by 36.9% to €16.3 million; net financial position improved to €213.5 million from €242.8 million.

• NFP/EBITDA ratio reduced from 5.11x to 3.42x.

• Depreciation and amortization increased to €54 million in 2024, expected to decrease sharply from 2027 onward.

• Temporary increase in debt at year-end due to higher raw material purchases and accelerated investments.

Outlook and guidance

• Order intake for early 2025 aligns with the business plan for polymers and carpet fibers; garment fibers remain subdued.

• EBITDA and volumes expected to rise in 2025, supported by competitor exits and efficiency measures.

• Strategic focus remains on debt containment, technological innovation, and sustainability.

• Economic and financial targets of the 2024-2026 Industrial Plan reaffirmed.

• Energy costs have normalized to budgeted levels for 2025 after temporary spikes.