Cabasse (ALCAB) H2 2025 TU earnings summary

Executive summary

• Annual revenue for 2025 was €4.7M, a 30% decrease year-over-year due to slowed international consumption, high distributor inventories, a tough comparison with prior OEM activity, and supply chain issues.

• The business environment remained challenging, with persistent economic headwinds and cash flow pressures impacting supplier relationships.

Financial highlights

• Revenue declined from €6.7M in 2024 to €4.7M in 2025, reflecting a significant contraction in activity.

• OEM activity contributed €0.4M less in 2025 compared to 2024.

Outlook and guidance

• Four new Luxury Wireless Audio products are scheduled for launch between Q2 and Q4 2026.

• The new management team, appointed in H2 2025, is expected to deliver initial results in 2026.

• Ongoing international expansion with new distribution agreements in the US and Asia-Pacific.

• 2026 performance will depend on consumer demand and successful execution of new distribution deals.