Robertet (RBT) H2 2025 earnings summary

Executive summary

• Achieved strong organic growth of 7.6% in 2025, led by Raw Materials and Flavors divisions, with all divisions contributing positively.

• EBITDA margin improved by 120 basis points to 20.6% of revenue, reflecting enhanced profitability.

• Net income rose 14.8% year-over-year to €103.4 million, with EPS up 14.7%.

• Proposed a 20% dividend increase to €12 per share, subject to AGM approval.

• Advanced sustainability initiatives, including SBTi-validated carbon reduction targets, Platinum EcoVadis Medal, and 67 certified supply chains.

Financial highlights

• Revenue grew 4.5% year-over-year to €843.9 million, with organic growth at 7.6%.

• EBITDA reached €174.1 million, up 10.9% from the previous year.

• Net income margin was 12.3%, with recurring operating income up 14.9% to €143.9 million.

• Gross margin improved by 2.9 points to 59.3%, driven by lower production costs and favorable mix.

• Free cash flow before acquisitions was €47 million; €45 million after acquisitions.

Outlook and guidance

• Targeting approximately 5% like-for-like revenue growth in 2026, assuming stable economic conditions.

• EBITDA margin expected to remain sustainably above 20% by 2030, with 2025 seen as exceptional.

• 2030 ambition: €1.1–1.2 billion revenue, 5–7% annual growth, EBITDA margin above 20%.

• Facing headwinds from raw material and transport cost inflation, FX volatility, and heightened competition.

• Price increases being negotiated to offset cost pressures, with margin recovery expected within 12-18 months.