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Nusco cushions revenue dip with Romanian growth and rising order backlog

Story Highlights
  • Nusco’s 2025 revenues slipped to €48.5 million as Italian incentive cuts weighed on domestic demand, but strong Romanian growth from subsidiary Pinum highlighted the group’s increasing international reliance.
  • A nearly 10% rise in order backlog, capacity expansion in Romania and the integration of real estate-focused Nusco II signal a strategy to diversify earnings, boost efficiency and strengthen Nusco’s financial resilience.
  • Looking for the best stocks to buy? Follow the recommendations of top-performing analysts.
Nusco cushions revenue dip with Romanian growth and rising order backlog

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Nusco SpA ( (IT:NUS) ) has issued an update.

Nusco S.p.A. reported preliminary 2025 consolidated revenues of €48.5 million, down from €51.2 million a year earlier, as Italian sales were hit by stricter rules on building incentives that curbed private-sector investment. The impact was partly offset by strong growth in Romania, where subsidiary Pinum increased revenues by about 17.5% to €24.9 million, underscoring the company’s growing reliance on foreign markets.

Despite the topline decline, Nusco’s order backlog rose nearly 10% to €15.6 million, with Pinum’s backlog up more than 16% to €8.6 million, providing visibility for future turnover. Management is doubling down on operational integration, cost efficiency and international expansion, including a new Pinum plant in Romania that will automate production and boost capacity, and the integration of Nusco II, which adds an industrial real estate portfolio to diversify income and strengthen the balance sheet.

The group’s strategy aims to mitigate the cyclical nature of the doors and windows sector by pairing manufacturing with property assets and tapping new incentive schemes, while leveraging the resilience of its Doors business unit. This combination is intended to enhance European competitive positioning, support self-financing and improve financial stability for shareholders and other stakeholders over the coming periods.

More about Nusco SpA

Nusco S.p.A., based in Nola in southern Italy, operates in the production and marketing of interior doors and wooden, PVC, aluminium and iron window frames under the historic «NUSCO» brand. The group, which includes Romanian subsidiary Pinum Doors & Windows, is a leading player in central and southern Italy, serving construction firms, franchisees, multi-brand resellers and private customers through its Doors and Window Frames business units.

The company is listed on Euronext Growth Milan and is expanding internationally, with a particular focus on the Romanian market. Its product range spans interior and armoured doors, as well as windows, shutters and iron grilles, positioning Nusco in both residential and commercial building segments across Italy and Eastern Europe.

Average Trading Volume: 162,600

Technical Sentiment Signal: Sell

Current Market Cap: €15.96M

For an in-depth examination of NUS stock, go to TipRanks’ Overview page.

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