SCR-Sibelco (094426466) H1 2025 earnings summary

Executive summary

• Revenue grew 7% year-over-year to €1,153 million, driven by strong European performance and the first contribution from Strategic Materials Inc. (US glass recycling).

• EBITDA declined 15.9% to €233 million due to lower sales and profitability in the High Purity Quartz (HPQ) business, impacted by Hurricane Helene and US-China tariff issues.

• Free operating cash flow (FOCF) was negative at €-171 million, affected by lower EBITDA and increased working capital.

• The Build 2030 strategy was launched, focusing on balanced growth across industrial silica, HPQ, and recycled glass.

• A fatal incident occurred at the Commerce, California glass recycling facility in March.

Financial highlights

• Revenue: €1,153 million in H1 2025, up from €1,078 million in H1 2024 (+7%).

• EBITDA: €233 million, down from €277 million (-15.9%).

• Net result attributable to the group: €78 million, down from €146 million (-46.5%).

• Gross profit decreased to €377 million from €410 million.

• Net financial debt increased to €857 million from €688 million.

Outlook and guidance

• Challenging conditions expected to persist due to unresolved global tariff issues, especially for HPQ.

• Non-HPQ activities, particularly in Europe, are expected to remain resilient if economic activity holds.

• HPQ outlook remains uncertain due to ongoing recovery from Hurricane Helene and tariff negotiations.