KME Group (KME) H1 2025 earnings summary

Executive summary

• Revenue rose to €1,022.9 million in H1 2025, up 29% year-over-year, driven by the Sundwiger Messingwerk acquisition.

• Group equity stood at €242.0 million as of June 2025, down from €270.3 million at end-2024, mainly due to losses and restructuring charges.

• EBITDA was €53.3 million, slightly down from €54.4 million in H1 2024; EBIT at €29.8 million (vs. €27.4 million), with net result impacted by €33.3 million in non-recurring charges, including €20.6 million for restructuring.

• Net financial debt increased to €517.5 million from €367.5 million at year-end 2024, mainly due to the Sundwiger acquisition and lease liabilities.

• Group benefited from market recovery, with strong order intake and continued cost rationalization, including the announced closure of the Stolberg plant by September 2025.

Financial highlights

• Consolidated revenues reached €1,022.9 million, up 29% year-over-year; revenues net of raw material costs rose 10.7% to €307.6 million.

• EBITDA was €53.3 million (vs. €54.4 million in H1 2024); EBIT at €29.8 million (vs. €27.4 million).

• Net loss attributable to shareholders was €28.9 million, similar to H1 2024 (€29.0 million); consolidated net loss was €31.1 million.

• Net financial debt at group level was €324.4 million at June 30, 2025, up from €260.5 million at end-2024.

• Gross margin (EBITDA margin) was 17.3% in H1 2025, down from 19.6% in H1 2024.

Outlook and guidance

• Business outlook tied to demand trends in KME SE’s sectors and broader macroeconomic dynamics.

• H2 2025 is expected to see further market improvement, though growth in demand will be lower than initially forecast.

• Potential disposals of non-core copper assets could positively impact Group debt.

• CULTI Milano expects continued commercial expansion, especially in Italy and Europe.