Q1 2026 revenue reached €1.885 billion, up 2.7% like-for-like, but down 1.1% as reported due to negative currency effects.
Operating Result from Activity (ORfA) rose 42% to €72 million, with margin improving to 3.8% from 2.6% year-over-year.
Growth was balanced across Consumer (+2.9% LFL) and Professional (+1.1% LFL) segments, supported by innovation and the ongoing Rebound plan.
The Rebound plan is progressing on schedule, focusing on innovation, digital marketing, and cost reduction.
Macroeconomic and geopolitical uncertainty remains, but guidance for organic growth and deleveraging is maintained.
Organic sales growth of 2.7% year-over-year, offset by a -3.8% currency effect, resulting in a reported sales decline of 1.1%.
Consumer segment sales reached €1.654 billion (+2.9% LFL), Professional segment €231 million (+1.1% LFL).
EMEA sales grew 2.5% LFL, Americas 6.7% LFL, Asia 2.2% LFL.
Operating expenses decreased, supporting improved profitability.
Free cash flow generation expected to normalize in 2026.
2026 outlook unchanged: targeting organic growth, normalized free cash flow, and deleveraging to around 2x by 2027 (excluding acquisitions).
ORfA growth expected to continue, with a focus on restoring profitability.
Macroeconomic and geopolitical uncertainty remains a key challenge.
Rebound plan execution on track, with SKU reduction and cost initiatives underway.
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