Hunyvers (ALHUN) Q3 2025 TU earnings summary

Executive summary

• Revenue for the first nine months reached €86.6M, down 5% year-over-year, with Q3 sales at €35.6M.

• Nautisme segment contributed over 20% of Q3 activity, showing strong volume recovery.

• Action plans in VDL workshops aim to normalize delivery times in the next fiscal year.

Financial highlights

• Consolidated revenue for nine months: €86.6M, a 5% decrease compared to the previous year.

• VDL segment revenue fell 9.6% to €73.9M; Nautisme rose 34.5% to €12.7M, driven by acquisitions.

• Organic sales declined 9.5% overall; Nautisme organic sales dropped 9.3%.

• Q3 Nautisme revenue up 50% (5.2% organic); VDL Q3 revenue down 13.4%.

Outlook and guidance

• Full-year revenue guidance reaffirmed at a minimum of €130M.

• Q4 expected to grow over 10% year-over-year.

• Anticipates improved operating margin and positive cash generation in H2, supported by better working capital.

• Ongoing deleveraging targets reiterated.