Eurogroup Laminations (EGLA) Q4 2025 earnings summary

Executive summary

• 2025 was marked by geopolitical shifts, regulatory changes, and market turbulence, but the business model proved resilient and diversified, with revenues nearly stable at constant FX.

• Revenues reached €831 million, down 1.8% at constant FX, with adjusted EBITDA at €88.7 million.

• E-mobility revenues declined due to lower volumes in the US and EMEA, partially offset by strong growth in China.

• Industrial & Infrastructure Solutions grew, driven by expansion in Asia and the transformer segment, with Kumar Precision Stampings contributing.

• Margins were pressured by tariffs, macroeconomic uncertainty, and regulatory changes, especially in EMEA and North America.

Financial highlights

• Total revenues for 2025 were €831 million, down 4.4% from 2024; at constant FX, down 1.8%.

• Adjusted EBITDA was €88.7 million (10.7% margin), down from €116 million (13.3%) in 2024.

• EBIT fell to €22.6 million from €65.7 million in 2024, impacted by higher D&A; net profit was breakeven or slightly negative.

• CapEx decreased to €68.9 million from €86.5 million in 2024.

• Net debt at year-end was €219 million, with Net Debt/LTM EBITDA adjusted at 2.5x.

Outlook and guidance

• 2026 revenue guidance: €700–750 million, with adjusted EBITDA margin expected at ~11%.

• CapEx for 2026 projected at €45 million, with positive operating free cash flow anticipated.

• Industrial segment expected to grow in 2026, especially in Asia, while e-mobility is expected to decline due to US market dynamics.

• Order book stands at €2.7 billion, with a pipeline of €2.1 billion as of February 2026.

• Focus on cash generation, operational efficiency, and resilience amid ongoing macroeconomic and geopolitical uncertainty.