Aubay Société Anonyme (AUB) H2 2025 earnings summary

Executive summary

• Achieved record 2025 results, exceeding all targets with revenue up 11.4% to €601.6 million and net income attributable to owners of the parent at €38.1 million, a 1.3% increase year-over-year.

• Proposed dividend rises to €1.40 per share, up 7.7%, with a payout ratio of around 47%.

• Strong performance driven by robust growth in France (+23.9%) and successful integration of Solutec.

Financial highlights

• Operating profit from ordinary activities increased 10.9% to €54.97 million, with a margin of 9.1%.

• Operating profit rose 9.4% to €50.2 million, including €1.4 million in free share costs and €0.6 million in amortization of customer relationships.

• Cash flows from operations reached €44.8 million (7.4% of revenue); net cash position at €56.2 million after major acquisition and dividend payments.

• Earnings per share increased to €3.00 from €2.94 year-over-year.

Outlook and guidance

• 2026 revenue guidance set at €676–690 million, representing 12–15% reported growth and 3–5% organic growth.

• Operating margin from ordinary activities expected between 9.0% and 9.5% for 2026.

• Focus shifting from margin preservation to renewed organic growth, leveraging Solutec integration and improved market conditions.