Grupo Industrial Saltillo (GISSA A) Q4 2025 earnings summary

Executive summary

• Q4 revenue rose 5% YoY and pro forma EBITDA grew 17%; FY2025 revenue was $994M, down 1%, while pro forma EBITDA rose 9% to $122M.

• Profitability resilience reflected higher-value mix, operating discipline, cost control and ramp-up of prior investments despite softer casting volumes and pressured end markets.

• New program awards of ~$220M are scheduled to launch in 2026–2027; priorities include margin improvement, engineering capability, operational efficiency and cash generation.

Financial highlights

• Q4 consolidated revenue was $242M, up 5% YoY; FY2025 revenue was $994M, down 1%.

• Q4 pro forma EBITDA was $33M, up 17% YoY, with a 14% margin; FY pro forma EBITDA was $122M, up 9%.

• Draxton Q4 revenue was $216M, up 5%; FY revenue was $909M and FY EBITDA rose 8% to $115M, with a 13% margin versus 12%.

• Cinsa Q4 revenue was $26M, up 8%; FY revenue was $84M, down 13%.

• GISEderlan Q4 revenue was $18M, down 1% YoY.

Outlook and guidance

• 2026 priorities include improving operating indicators, profitable product mix, execution excellence, engineering capability and adding value to the portfolio.

• 2026 EBITDA margin is expected to remain similar to Q4, with improvement weighted to H2 as value-added processes ramp; productivity is expected to offset adverse FX effects.

• 2026 CapEx is forecast at $60M–$70M, with disciplined spending and a 50/50 maintenance and expansion split.

• Medium- to long-term plans emphasize machining, automation, energy efficiency, reduced inventory and scrap, and growth in European commercial-vehicle platforms.