Hexaom (ALHEX) Q4 2025 TU earnings summary

Executive summary

• 2025 revenue reached €616.3 million, aligning with forecasts despite a challenging real estate sector.

• Sales momentum was strong across all business lines, with a return to growth in Q4 2025.

• Business and earnings growth are anticipated for 2026, supported by a robust order book.

Financial highlights

• Total 2025 revenue was €616.3 million, down 15.3% year-over-year; Q4 2025 production rose 5.5% compared to Q4 2024.

• Home Building revenue fell 23.1% to €460.7 million; Renovation revenue declined 13.2% to €39.4 million.

• Real Estate Development revenue increased 40.8% to €100.0 million; Land Development revenue rose 36.3% to €15.4 million.

• Intermediated business revenue grew 24.4% to €16.8 million.

Outlook and guidance

• Operating profitability above 3% of revenue is confirmed for 2025.

• Revenue and earnings are expected to grow in 2026, driven by a strong order book and stable financing conditions.

• The group remains cautious due to ongoing global economic and geopolitical volatility.