Interpump Group (IPA) Q3 2025 earnings summary

Executive summary

• Q3 2025 marked a turnaround with 3.4% organic growth in Hydraulics after seven quarters of decline, while Water-Jetting stabilized following a strong Q2.

• Consolidated revenue grew by 2.3% year-over-year in Q3 2025, with Hydraulics driving the growth.

• Record free cash flow for the quarter reached €87 million, up 13% year-over-year.

• Profitability improved, supported by production efficiencies and effective countermeasures to US tariffs.

• Diversification and operational flexibility remain key strengths, with continued focus on expanding geographic and product reach.

Financial highlights

• Q3 2025 consolidated revenue up 2.3% year-over-year to €499.2M, with organic growth outpacing total sales.

• EBITDA increased 2.9% to €114.8M, margin up to 23.0% (vs. 22.6%).

• Net income for Q3 2025 rose to €55.0M, up 9.2% year-over-year.

• Free cash flow for the quarter reached €87M, the highest in company history.

• 9M 2025 revenues were €1,576.1M, down 0.8% year-over-year, with EBITDA stable at €364.3M (23.1% margin).

Outlook and guidance

• Full-year 2025 sales and profitability guidance raised to the upper end of the previous range (sales: -5% to +1%, EBITDA margin: 22.5%).

• Positive trends in Q2 and Q3 support confidence in continued margin and revenue strength.

• Acquisitions in 2025 expected to add about 1% to total revenues; further M&A activity ongoing.

• Next medium-long term update scheduled for February 2026.