Chargeurs (CRI) Q3 2025 earnings summary

Executive summary

• Strong commercial and financial momentum in Q3 2025, with double-digit organic growth in new businesses and robust order intake, especially at Museum Studio and Novacel.

• Luxury brands achieved 14% growth in Q3, and Personal Goods continued double-digit expansion.

• Sequential improvement at Chargeurs PCC, despite ongoing challenges from U.S. customs duties in Asia.

• The Americas and Europe posted solid organic growth, while Asia remained impacted by new U.S. customs duties.

Financial highlights

• Q3 2025 consolidated revenue: €164.2 million, up 2.3% like-for-like, nearly stable reported (-0.7%) despite dollar depreciation.

• 9M 2025 revenue: €536.4 million, down 0.5% like-for-like and 0.6% reported.

• Negative currency effect of -4.1% in Q3, partially offset by a positive scope effect (+1.1%) from recent acquisitions.

Outlook and guidance

• Strong order book at Novacel and robust commercial momentum point to an acceleration in activity by year-end and a favorable 2026, assuming stable macroeconomic conditions.

• Transformation of technical textile activities expected to accelerate in 2026 due to recent investments.