Global Dominion Access (DOM) Q2 2025 earnings summary

Executive summary

• Organic sales grew 10% at constant currency in H1 2025, surpassing strategic targets, driven by strong order intake and new contracts across diverse geographies, while divestments and forex reduced reported sales.

• EBITDA margin reached a record 13.7% of sales, with recurring net profit up 40% year-over-year on a like-for-like basis.

• Net profit was impacted by a €14 million non-cash valuation adjustment on Dominican Republic photovoltaic assets due to USD devaluation.

• Strategic focus on high-margin activities, divestment from non-core and renewable assets, and international expansion in sustainability, technology, and energy transition sectors.

• Operational transformation and execution of the strategic plan drove improved margins and financial discipline.

Financial highlights

• Consolidated turnover for H1 2025 was €537.6 million, up 10% on a comparable basis but down 6% on a reported basis due to divestments and forex.

• EBITDA increased to €73.8 million (+10% comparable), with margin at 13.7% of turnover.

• EBIT reached €38.6 million, up 4% on a comparable basis.

• Attributable net income was €5 million, or €19 million excluding the Dominican Republic one-off, up 40% year-over-year.

• Financial expenses decreased year-over-year, reflecting lower interest rates and discontinued operations.

Outlook and guidance

• Guidance for 2026 remains unchanged, with management confident in achieving targets due to strong organic growth, margin improvement, and operational performance.

• Continued focus on profitable growth in high value-added sectors, international expansion, and capital allocation in environmental and industrial markets.