Vidrala (VID) Q4 2025 earnings summary

Executive summary

• Revenue for 2025 was EUR 1,465.2 million, down from 2024 due to the Italian divestment and challenging market conditions.

• EBITDA reached EUR 441 million, with a margin of 30.1%, and net profit was EUR 209 million.

• Strong cash generation of EUR 200 million enabled net debt reduction to EUR 105 million, or 0.2x EBITDA.

• Strategic actions included exiting Italy, entering Chile, restructuring in the UK & Ireland, and integrating the Brazilian business.

• Maintained margin resilience and reinforced industrial competitiveness despite negative demand.

Financial highlights

• Sales reached EUR 1,465.2 million, down 7.8% year-over-year (–5.4% like-for-like), with EBITDA of EUR 441 million and EPS of EUR 6.24.

• EBITDA margin improved to 30.1%, up 1.5 percentage points year-over-year.

• Free cash flow was EUR 200.1 million, 14% of sales.

• Net debt reduced to EUR 105.3 million, leverage ratio at 0.2x EBITDA.

• Adjusted EBITDA and EPS exclude EUR 13.7 million in restructuring costs for the UK and Ireland.

Outlook and guidance

• Sales volumes expected to move positive in 2026, with price moderation of around 2% and 50% of sales under multi-annual agreements.

• CapEx for 2026 expected to be slightly below 2025’s EUR 189 million, in the EUR 170–180 million range.

• Guidance for 2026 to be officially announced at the AGM in April, including Chilean operations.

• Management projects moderate volume growth (1–2%) and stable margins, with 69% of 2026 energy needs hedged.

• Acquisition of Cristalerías Toro in Chile expected to add EUR 70 million in sales and EUR 12 million in EBITDA.