Miquel y Costas & Miquel (MCM) Q1 2025 earnings summary

Executive summary

• Net sales rose 10.1% year-over-year to €90.9 million in Q1 2025, reversing previous trends.

• Consolidated net profit after tax was €12.9 million, down 1.5% from Q1 2024, mainly due to higher energy costs.

• All business lines contributed to growth, with tobacco industry sales up 7.8% and industrial products up €2.9 million.

• The parent company’s net profit increased 12.5% year-over-year to €8.4 million.

Financial highlights

• EBITDA reached €21.2 million, down 1.8% year-over-year.

• Operating profit was €16.2 million, a 2.5% decrease from Q1 2024.

• Cash flow after tax was €17.8 million, nearly flat year-over-year.

• Net financial position (net cash) stood at €75.7 million at quarter-end, stable versus December 2024.

• Equity increased to €399.1 million from €385.1 million at year-end 2024.

Outlook and guidance

• Sales growth is expected to continue, supported by recent and planned investments and new product development.

• Energy costs are expected to moderate in Q2, but their evolution remains uncertain for the rest of the year.

• Geopolitical and macroeconomic uncertainties, including new US tariffs and currency impacts, may affect costs and sales volumes.

• No significant operational impacts are anticipated due to business diversification and resilience.

• The company maintains its 2025 growth objectives.