SCR-Sibelco (094426466) H2 2025 earnings summary

Executive summary

• Revenue grew to €2,237 million (0.6%-1% year-over-year), with strong European and US glass recycling performance offsetting weaker US HPQ results due to geopolitical tensions, tariffs, and hurricane recovery.

• EBITDA declined 3.3% to €455 million, maintaining a robust margin of 20.3%.

• Net profit attributable to the group rose 11% to €146 million, with a proposed dividend of €146 per share, unchanged from the prior year.

• Free operating cash flow was negative at €-10 million, mainly due to prepayments in the US; adjusted FOCF was €85 million.

• The Build 2030 strategy was launched to drive transformation and reinforce leadership in core materials.

Financial highlights

• Revenue: €2,237 million (0.6%-1% year-over-year).

• EBITDA: €455 million (20.3% margin, -3% to -3.3% year-over-year).

• EBIT: €249 million (-1% year-over-year).

• Net profit: €150 million (+12% year-over-year).

• Free operating cash flow: €-10 million (2024: €125 million); adjusted FOCF: €85 million (2024: €239 million).

• Net debt: €745 million (2024: €643 million).

• SG&A expenses reduced by 7% to €270 million.

Outlook and guidance

• Financial performance in 2026 expected to be resilient and broadly in line with 2025.

• Focus remains on operational excellence, cost control, and maintaining investment-grade rating.

• Commitment to solid financial position and selective investments aligned with Build 2030 priorities.