Oeneo (SBT) H2 24/25 earnings summary

Executive summary

• 2024-2025 turnover was €305.1M, nearly flat year-over-year, with improved profitability despite a challenging wine and spirits market.

• Recurring operating margin rose to 14.9%, up 0.9 points, driven by strong Closures division performance.

• Net profit increased 3.2% to €29.8M, and free cash flow rose sharply to €38.0M.

Financial highlights

• Recurring operating profit grew 6.2% to €45.5M; operating profit up 4.1% to €43.5M.

• Net financial expense increased to €4.7M due to higher gross debt, partly offset by better currency effects.

• Cash flow from operations reached €53.0M, up from €48.7M; net investments were €15.0M.

• Equity stood at €324.8M; net debt reduced to €57.1M, with a net gearing ratio of 17.6%.

• Dividend of €0.35 per share proposed, unchanged from prior year.

Outlook and guidance

• 2025-2026 expected to be a year of consolidation amid ongoing economic uncertainty.

• Cost optimization efforts will continue; no significant improvement anticipated in Winemaking division.