Comer Industries (COM) Q3 2025 earnings summary

Executive summary

• Achieved sales revenues of €661.1 million in the first nine months of 2025, down 11.2% year-over-year.

• EBITDA reached €106.6 million, representing a 16.1% margin, with a 0.3 bps margin increase in Q3 compared to the prior year.

• Net financial debt improved to €52.6 million from €58.4 million at year-end 2024, despite €22.9 million in dividends distributed.

• Management remains confident in navigating a complex market environment, emphasizing innovation and operational efficiency.

Financial highlights

• Sales revenues declined 11.2% year-over-year to €661.1 million for the nine-month period.

• EBITDA decreased 14.2% to €106.6 million, with margin at 16.1% of sales (down from 16.7%).

• Net financial debt at €52.6 million, with a leverage ratio of 0.4x EBITDA.

• Lease liabilities under IFRS 16 included in debt amounted to €31.1 million, down €6.0 million from December 2024.

Outlook and guidance

• Results for 2025 expected to align with industry trends, with percentage margin similar to 2024.

• Management aims to further reduce net debt, excluding extraordinary transactions.