Grigeo (GRG1L) Q4 2025 earnings summary

Executive summary

• Revenue rose by 16% year-over-year to EUR 246.6 million, driven by strong growth in tissue paper and paper products.

• EBITDA declined by 9% to EUR 31.5 million, and profit before tax fell 22% to EUR 18.7 million compared to the previous year.

• Tissue paper segment revenue surged 28.7% year-over-year, while gross margin declined due to product mix and competition.

Financial highlights

• Net profit for the period was EUR 16.8 million, down from EUR 20.9 million year-over-year.

• Gross margin decreased to 20.3% from 21.3% year-over-year.

• Earnings per share were EUR 0.127, compared to EUR 0.158 in the prior year.

• Adjusted EBITDA was EUR 31.5 million, down from EUR 34.8 million year-over-year.

• Cash and cash equivalents at year-end were EUR 10.3 million, down from EUR 14.0 million.

Outlook and guidance

• Management notes ongoing uncertainty due to the war in Ukraine, impacting the Ukrainian subsidiary Mena Pak AT.

• No significant events after the reporting period; business outlook remains cautious.