STIF (ALSTI) H2 2025 earnings summary

Executive summary

• Revenue for 2025 reached €90.5M, up 48% year-over-year, driven by acquisitions and strong organic growth, nearly tripling activity in two years.

• EBITDA rose 31% to €20.6M, with net income attributable to the Group up 22% to €11.8M.

• Growth was fueled by acquisitions (STUVEX, BOSS PRODUCTS) and strong performance in explosion protection segments.

• Expanded global operations, with business spanning Europe, Asia, and North America, and Asia's share rising to 26% of activity by 2025.

• Ambitious international expansion and innovation strategy underway.

Financial highlights

• Gross margin increased 44% to €57.1M, maintaining a margin above 63% of revenue.

• Operating profit rose 28.7% to €17.3M.

• Cash flow from operations reached €14.1M, with positive cash generation excluding M&A.

• Available cash at year-end was €18.8M, up from €16.7M; net debt at €24.3M.

• Shareholders' equity increased to €32.1M from €23.4M.

Outlook and guidance

• Targeting €200M revenue by 2030, with EBITDA margin above 20%.

• Strategic priorities include accelerating sales, expanding BESS product lines, and growing STUVEX sales in Europe.

• 2026 expected to see accelerated growth and further international expansion.