Serge Ferrari Group (SEFER) H1 2025 earnings summary

Executive summary

• Sales grew over 10% in the first half of 2025, reaching €178.7 million, reflecting a recovery in activity and successful execution of the Transform 2025 plan.

• Adjusted EBITDA rose to €20.1 million, up 46.8% year-over-year, driven by higher sales and cost control.

• Net income attributable to the group was €7.1 million, a significant turnaround from a loss of €8.8 million in H1 2024.

Financial highlights

• Revenues increased to €178.7 million from €161.9 million, up 10.4% year-over-year.

• Adjusted EBITDA improved to €20.1 million from €13.7 million, a 46.8% increase.

• Operating income surged to €15.3 million from €0.5 million, with margin rising to 8.6% from 0.3%.

• Net income group share reached €7.1 million, compared to a loss of €8.8 million in the prior year.

• Cash flow from operations was €23.6 million, up from €13.7 million in H1 2024.

Outlook and guidance

• Focus for the second half will be on reducing fixed costs, managing working capital, and controlling net debt amid ongoing geopolitical and raw material price pressures.

• Anticipates a return to seasonality in business performance for the remainder of the year.