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.

• Recurring EBITDA margin improved to 9.6%, supported by cost savings and stable unit margins.

• Maintained operational rigor and responsiveness, focusing on core recycling and community service businesses, with strategic investments in specialized recycling lines and battery recycling.

• Investments were managed within budget, emphasizing development and value chain expansion.

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, representing a 26% payout ratio.

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

Outlook and guidance

• Revenue for 2025-2026 expected to be at least €3.34 billion, with recurring EBITDA projected between €320 million and €350 million.

• Regulatory changes in Europe (CBAM, steel import quotas) and new specialized recycling lines expected to support growth and improve margins.

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

• Guidance assumes slight volume increases in both scrap and non-ferrous metals.

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