Miquel y Costas & Miquel (MCM) Q3 2025 earnings summary

Executive summary

• Net sales for the first nine months of 2025 reached €241.0 million, up 0.8% year-over-year despite demand volatility and a weaker US dollar.

• EBITDA decreased by 5.5% to €58.3 million, and net profit fell 6.3% to €34.8 million compared to the same period last year.

• The business faced higher energy costs, unfavorable currency movements, and global trade disruptions.

Financial highlights

• Revenue increased by €1.8 million year-over-year, driven by growth in tobacco-related products.

• EBITDA dropped by €3.4 million, and pre-tax profit declined by €3.2 million year-over-year.

• Cash flow after taxes was €49.5 million, down 4.6% from the prior year.

Outlook and guidance

• Expects full-year results to be similar to the previous year’s, barring significant changes in the environment.

• Maintains investment and shareholder remuneration policies despite macroeconomic and geopolitical challenges.