Rosetti Marino (YRM) H2 2025 earnings summary

Executive summary

• Net profit reached €36.9 million, up 24% year-over-year, with a 5.38% margin, aligned with budget expectations.

• EBITDA rose 23% to €66.0 million (9.62% margin), and EBIT to €56.9 million (8.3% margin), both up from 2024.

• Production value increased 18% to €686.4 million, driven by Renewables & Carbon Neutrality, which surged 143% to €399 million.

• Order backlog at year-end was €995 million, with €474 million in Oil & Gas and €521 million in Renewables & Carbon Neutrality.

• Consolidated net equity reached €174.6 million at 31 December 2025, up from €146.4 million at the end of 2024.

Financial highlights

• Revenue from sales and services: €738.3 million (+27% year-over-year).

• Consolidated net financial position at year-end was positive at €153.2 million.

• Group net equity increased by €28.2 million year-over-year.

• Gross margin: 7.6% of production value.

• Cash and cash equivalents at year-end: €135 million.

Outlook and guidance

• Growth in Renewables & Carbon Neutrality expected to continue, offsetting Oil & Gas contraction.

• 2026 backlog nearly covers budget and strategic business plan targets.

• Major projects in 2026 include gas platforms for Libya and CO2 storage platforms for the UK.

• Dividend payout and capital allocation reflect confidence in future cash flows.

• Order backlog decreased 14% to €995 million, but new contracts are expected soon.