Delta Plus Group (ALDLT) Q4 2025 earnings summary

Executive summary

• Revenue reached €389.6 million in 2025, with an organic decline limited to -2.0% year-over-year, demonstrating resilience amid a complex environment.

• Operating margin held steady at 11.4%, supported by successful integration of Gevanta and Baspa acquisitions.

• Net income attributable to the Group was €27.2 million, representing 7.0% of revenue.

• Cash flow generation was optimized, and equity increased to €275.2 million despite currency headwinds.

Financial highlights

• Revenue declined by 2.6% compared to 2024, with a significant negative currency effect of -3.5% (€14.0 million).

• Gross margin improved by 60 basis points to nearly 56.0% of revenue.

• Recurring operating income was €44.4 million (11.4% of revenue), down from €50.6 million (12.6%) in 2024.

• Net income from continuing operations was €27.8 million, down 11.2% year-over-year.

• Proposed dividend of €0.75 per share for 2025.

Outlook and guidance

• 2026 targets a return to organic growth, supported by commercial transformation and normalization of traditional markets.

• Continued focus on selective acquisitions and consolidation in high-potential regions such as South America, North America, and the Middle East.

• Management remains vigilant regarding geopolitical risks and inflationary pressures, especially in the Middle East.