Aramis Group (ARAMI) H2 2025 earnings summary

Executive summary

• FY 2025 delivered profitable growth with record B2C deliveries of 119,000 units (+6% YoY) and revenue of €2,380 million, outperforming the market across six geographies.

• Adjusted EBITDA rose 34% year-over-year to €67.8 million, and net income quadrupled to €19.9 million.

• Net debt was reduced from €61 million to €6.1 million through strong cash generation of €66 million.

• High customer and employee satisfaction, with NPS at 73 and eNPS at 53 as of September 2025.

• Strategy execution progressed, though at a slower pace in the UK and Austria due to founder transitions and operational alignment, making FY 2026 a transition year.

Financial highlights

• Revenue grew 6% year-over-year to €2,380 million, with B2C growth of 7.1% and B2C segment accounting for 89% of revenues.

• Adjusted EBITDA increased from €51 million to €67.8 million, in line with guidance.

• Gross profit per B2C vehicle sold (GPU) improved 3.2% to €2,359, best in class in Europe.

• Operating income more than doubled to €28.9 million, and net profit surged 296.3% to €19.9 million.

• Cash generation reached €66 million, supporting earn-out and share buyback payments while reducing net debt.

Outlook and guidance

• FY 2026 guidance: at least 115,000 B2C deliveries and adjusted EBITDA of at least €55 million, reflecting a cautious approach amid ongoing transitions and market uncertainty.

• Midterm ambitions reaffirmed: high single-digit average annual organic B2C volume growth and around 5% adjusted EBITDA margin, now expected over a longer horizon.

• Execution pace of strategic plan to be gradual, reflecting macroeconomic and political uncertainties.