Robertet (RBT) H2 2025 earnings summary

Executive summary

• Achieved 7.6% organic growth in 2025, with all divisions contributing and reported revenue growth of 4.5% despite significant negative forex impacts.

• EBITDA margin improved by 120 basis points to 20.6% of revenue, reflecting enhanced profitability from both structural and one-off effects.

• Attributable net income rose 14.8% year-over-year to €103.4 million, with EPS up 14.7%.

• Proposed a 20% dividend increase to €12 per share, subject to AGM approval.

• Advanced sustainability initiatives, including SBTi-validated carbon reduction targets and Platinum EcoVadis Medal.

Financial highlights

• Revenue reached €843.9 million, up 4.5% as reported and 7.6% organic growth.

• EBITDA increased 10.9% to €174.1 million, with margin at 20.6%.

• Net income (group share) increased by 14.8% to €103 million, maintaining a 12.3% margin.

• Gross margin improved by 2.9 points to 59.3%, driven by lower production costs and favorable mix.

• Free cash flow before acquisitions was €47 million; €45 million after acquisitions.

Outlook and guidance

• Targeting approximately 5% like-for-like revenue growth in 2026, assuming stable economic conditions.

• EBITDA margin expected to remain sustainably above 20% by 2030, but 2025 performance seen as exceptional.

• 2030 ambition: €1.1–1.2 billion revenue, 5–7% annual growth, EBITDA margin above 20%.

• Ongoing FX volatility, raw material and transport cost inflation, and heightened competition expected to persist in 2026.

• Margin recovery expected within 12-18 months as price increases are negotiated to offset cost inflation.