Jacquet Metals (JCQ) Q3 2025 earnings summary

Executive summary

• Sales for the last twelve months reached approximately €2 billion, with operations in 24 countries and 119 distribution centers.

• As of September 30, 2025, sales declined 7.5% year-over-year to €1,427m, with volumes sold down 2.3%, mainly due to low demand and price pressure, especially in Germany.

• Despite lower sales, gross margin improved to 23.5% from 21.4% year-over-year, and EBITDA rose to €71m (4.9% of sales) from €61m (3.9%).

• Net income (Group share) increased to €9m from €4m year-over-year, despite a challenging environment.

• Operating cash flow was positive at €60m for the first nine months.

Financial highlights

• Sales: €1,427m, down 7.5% year-over-year.

• Gross margin: €336m (23.5% of sales), up from €330m (21.4%).

• EBITDA: €71m (4.9% of sales), up from €61m (3.9%).

• Adjusted operating income: €40m (2.8% of sales), up from €28m (1.8%).

• Net debt: €170m, with a gearing ratio of 26%.

Outlook and guidance

• Market conditions remain challenging with low demand, continued price pressure, and ongoing geopolitical and economic uncertainty.

• Focus remains on managing working capital, costs, and maintaining financial strength while pursuing investment and development.