Robertet (RBT) H2 2024 earnings summary

Executive summary

• Achieved 12% reported and 10.3% organic sales growth in 2024, with all divisions and geographies contributing and record sales of €808 million.

• Strong recovery in Raw Materials and Fragrances, with successful integration of Sonarome in India and acquisition of Phasex in the US, expanding technical and geographic capabilities.

• Major CapEx investments increased production capacity, especially abroad, and included targeted acquisitions.

• ESG achievements include EcoVadis Platinum Award, placing the group in the top 1% for sustainability.

• Performance driven by customer inventory build-up, dynamic new markets, and lower raw material costs.

Financial highlights

• Sales rose from €720 million in 2023 to €808 million in 2024, a 12% increase.

• EBITDA increased 18.1% to €157 million (19.4% margin), with gross profit margin rising to 56.4%.

• Net income attributable to group rose 20.7% to €90 million, with net margin up to 11.2%.

• Free cash flow surged to €74 million, supported by EBITDA growth and working capital efficiency.

• CapEx increased to €39 million, reflecting expansion and modernization.

Outlook and guidance

• Q1 2025 sales up 5.5% (4.7% at constant FX/scope), signaling a return to normalized growth after an exceptional 2024.

• 2025 expected to be a year of consolidation, with cautious optimism amid ongoing cost, regulatory, and tariff pressures.

• Long-term ambition to exceed €1bn in sales by 2030 and progressively expand EBITDA margin above 20%.