Inmocemento (IMC) Q4 2025 earnings summary

Executive summary

• Revenue rose 2.4% year-over-year to €967 million, with both Real Estate and Cement areas contributing positively.

• EBITDA increased 2% to €318.9 million, maintaining a stable margin of 33%.

• Net profit attributable to the parent surged 128.6% to €346.6 million, driven by operational improvements and a €132.9 million gain from the sale of Giant Cement Holding.

• Net financial debt dropped 46.2% to €458.9 million, reflecting strong cash generation and divestments.

Significant events and developments

• Syndicated loan for €414.2 million extended to 2029.

• Sale of 1.23% stake in Realia Business for €10.1 million, impacting consolidation reserves and minority interests.

• Reverse merger of Realia Business and FCYC, with no impact on net assets.

• Acquisition of remaining 12.6% of Planigesa for €55 million, now fully owned.

• Sale of Giant Cement Holding finalized, generating €177.1 million inflow and €132.9 million equity method gain.

• Agreement to sell Keystone Cement Company for approx. $310 million, expected to close in H2 2026.

Financial highlights

• EBIT rose 8.8% to €307.6 million, reflecting both EBITDA growth and higher asset revaluation gains.

• Equity increased 11.1% to €3,264.8 million, mainly from net profit.

• Operating cash flow remained strong at €335.7 million.

• Investment cash flow turned positive at €145.3 million, mainly from the Giant Cement sale.

• Financing cash flow outflow of €358.7 million, reflecting debt repayments and minority share purchases.