Oeneo (SBT) Q2 24/25 earnings summary

Executive summary

• First-half 2024-2025 turnover was €153.0M, nearly stable year-over-year, with strong Closures growth offsetting Winemaking decline.

• Recurring operating margin rose to 15.5%, up 2.4 points, driven by Closures division performance.

• Net profit, Group share, increased 7.2% to €15.8M, with a net margin of 10.3%.

• Financial position remains solid, with low net debt at 25% of shareholders' equity.

Financial highlights

• Turnover decreased 0.8% year-over-year to €153.0M; Closures up 7.3%, Winemaking down 16%.

• Recurring operating profit rose 16.8% to €23.7M; operating profit up 12.3% to €23.1M.

• Net profit, Group share, reached €15.8M, up from €14.7M; EPS not specified.

• Net investments were €6.2M, mainly for production improvements.

• Net cash flow from operations was negative €3.5M due to higher working capital needs.

Outlook and guidance

• Second-half visibility is uncertain due to low global harvest volumes and declining wine consumption.

• Management expects the second half to follow the same trend as the first.