Serge Ferrari Group (SEFER) H2 2025 earnings summary

Executive summary

• Achieved record revenue of €347.5M in 2025, up €24M year-over-year, with notable growth in strategic markets and a significant rebound in financial performance despite challenging conditions.

• Demonstrated resilience amid inflation and challenging markets, maintaining profitability and international momentum.

• Strengthened global presence with operations in 16 countries and over 4,000 clients.

• Growth was robust in the first three quarters, with a slight decline in Q4 due to high comparatives and mixed market environment.

• Continued focus on innovation, sustainability, and operational agility.

Financial highlights

• Revenue grew 7.4% year-over-year to €347.5M, with 7.9% growth at constant scope and currency, driven by price increases and strategic focus on high-value products.

• EBITDA rose 41.4% to €29.6M (8.5% margin), and operating income (ROC) increased 79.2% to €19.0M (5.5% margin).

• Adjusted EBIT grew 49.5% to €18.8M.

• Net income reached €7.5M, a significant turnaround from a €13.3M loss in 2024.

• Working capital requirement (BFR) reduced to 34.1% of revenue, down from 37.7% in 2024.

Outlook and guidance

• 2026 outlook tempered by geopolitical uncertainty, low visibility on volumes, and cautious customer sentiment.

• Focus remains on maintaining competitive positioning, operational efficiency, stock management, and optimizing cost structure.