Comer Industries (COM) Q1 2025 earnings summary

Executive summary

• Consolidated revenues reached €212.1 million in Q1 2025, a 22.1% decrease year-over-year.

• EBITDA was €31.8 million, down 30.5% from Q1 2024, with a margin of 15.0%.

• Net financial debt decreased to €56.2 million as of March 31, 2025.

• Giampiero Maioli joined the Board as Vice President following a director's resignation.

Financial highlights

• Sales revenues declined 22.1% year-over-year, mainly due to lower demand in core markets.

• EBITDA margin dropped to 15.0% from 16.8% in Q1 2024.

• Net financial debt improved by €2.2 million compared to December 31, 2024.

• Leverage ratio remained stable at 0.4x EBITDA.

Outlook and guidance

• Management expects sales performance in line with main OEM operators for 2025.

• Margins are anticipated to be slightly lower than 2024.

• Further improvement in net financial position is expected, excluding extraordinary transactions.