Synergie (SDG) H2 2025 earnings summary

Executive summary

• Revenue grew 1.8% year-over-year to €3,241 million in 2025, demonstrating resilience in a challenging environment.

• International activities accounted for 60.9% of total revenue, with strong growth in Southern Europe offsetting declines in Northern and Eastern Europe.

• Net profit declined 19.2% year-over-year to €54.2 million, impacted by goodwill impairment in the UK.

Financial highlights

• EBITDA increased 2.9% year-over-year to €134.4 million, representing 4.1% of revenue.

• EBITA was €102.6 million (3.2% of revenue), with international operations contributing 58.7% of total EBITA.

• Operating profit fell 6.6% to €89.3 million, mainly due to UK goodwill impairment.

• Net cash position improved by €28.5 million to €317.2 million at year-end.

• Shareholders' equity reached €754 million.

Outlook and guidance

• Expects to generate revenue above 2025 levels in 2026, despite ongoing economic and geopolitical uncertainties.

• 2026 will include contributions from recent acquisitions in Canada and Switzerland.

• Continues to pursue a targeted acquisition strategy.