Derichebourg (DBG) H2 2025 earnings summary

Executive summary

• Net profit attributable to shareholders rose 63% to €122 million, driven by business resilience, cost savings, and a strong contribution from Elior Group.

• Revenue declined 7.5% year-over-year to €3.34 billion, mainly due to lower volumes and prices in the Recycling segment, especially ferrous scrap.

• EBITDA margin improved to 9.6% despite revenue decline, supported by cost control and stable unit margins.

• Maintained operational resilience and delivered strong free cash flow with prudent management.

• Focused on core recycling and community service businesses, with a strategic stake in Elior.

Financial highlights

• Revenue reached €3.34 billion, down 7.5% year-over-year.

• Recurring EBITDA was €319.5 million, down 3.2% year-over-year, with a margin of 9.6%.

• Net profit attributable to shareholders: €122 million, up 63% year-over-year.

• Dividend proposed at €0.13 per share, stable year-over-year.

• Net financial debt decreased by €30.9 million to €682.8 million.

Outlook and guidance

• Revenue for 2026 expected to be at least €3.34 billion; recurring EBITDA projected between €320–350 million.

• Regulatory changes (CBAM, EU steel import quotas) and new specialized recycling lines to support growth.

• Elior Group's contribution to results is expected to continue improving.

• Short-term: Prices and volumes have stabilized at a low point; no further declines expected.

• Public Sector Services revenue and EBITDA expected to remain stable.