Record Annual Results and Sales
Consolidated sales of EUR 562 million (≈ +EUR 8 million YoY). Company states 2025 was the most successful financial year and largely achieved the guidance corridor (~EUR 580m midpoint).
Strong EBITDA Growth and Margin Expansion
Group EBITDA ~EUR 116.5 million, up ≈11% YoY (≈ +EUR 11m). EBITDA margin improved to 20.7% (exceeding the >20% long-term target and prior year ~19%).
Higher Net Profit and Increased Dividend
Group net result after tax of EUR 64 million, up ≈18% YoY. Earnings per share rose similarly and management proposed a dividend increase of +17% to EUR 2.10.
Specialty Chemicals Outperformance
Specialty Chemicals sales ≈ EUR 380 million, up 8.8% YoY (Q4 +9.2%). Segment EBITDA rose to ~EUR 107 million (+13.6% YoY from ≈EUR 94m). Growth driven by Human Nutrition (creatine), Custom Manufacturing and Defense.
Healthy Cash Position and Positive Free Cash Flow
Positive net cash position of EUR 31 million at year-end. Despite elevated CapEx, free cash flow remained positive; operating cash flow benefited from ~EUR 60 million customer grants and other timing effects.
Major Growth Investments on Track
Approved creatine expansion program (≈EUR 120 million) with phased commissioning from H2 2027 and expected additional annual sales potential in the initial 3‑digit million range. Nitroguanidine expansion progressing (installation ongoing; target commissioning mid‑2026). U.S. site selection nearly complete and initial cost submissions to DoD accepted.
Market Momentum & Strategic Positioning
Creapure/Creavitalis brand awareness rising; incremental capacity put on line in Q3/Q4 2025 provides ~20–25% more creatine quantities for 2026. Free float increased to ~74%, supporting market profile (toward MDAX range).