Chargeurs (CRI) Q1 2025 earnings summary

Executive summary

• Q1 2025 revenue reached €187.8 million, up 5.6% reported and 2.8% like-for-like/organic year-over-year, driven by strong performances in Museum Studio and Personal Goods.

• Museum Studio posted 31.2% reported and 23.8% like-for-like/organic growth, fueled by a record order book and major project execution.

• Novacel confirmed its rebound with 2.6% reported and 2.1% like-for-like/organic revenue growth, supported by innovation, positive product mix, and pricing.

• Personal Goods grew 21.4% reported and 20.0% like-for-like/organic, reflecting robust brand momentum and retail expansion.

• The group continued its innovation strategy, notably with Novacel's Versatis launch and Museum Studio's majority stake in Lord Cultural Resources.

Financial highlights

• Group revenue: €187.8 million in Q1 2025 vs. €177.8 million in Q1 2024 (+5.6% reported, +2.8% like-for-like/organic).

• Museum Studio revenue: €37.0 million (+31.2% reported, +23.8% like-for-like/organic).

• Novacel revenue: €74.3 million (+2.6% reported, +2.1% like-for-like/organic).

• Personal Goods revenue: €3.4 million (+21.4% reported, +20.0% like-for-like/organic).

• Chargeurs PCC revenue: €51.6 million (+0.6% reported, -4.8% like-for-like); Luxury Fibers: €21.5 million (-6.9% reported, -6.1% like-for-like), impacted by luxury sector softness and weak wool market.

Outlook and guidance

• Management expressed confidence for 2025, citing sectoral and geographic diversification, rigorous performance, and cash management.

• Focus remains on tailored business development, performance discipline, and long-term value creation.

• The group expects continued growth, leveraging innovation and diversification.