Netherlands · Delayed Price · Currency is EUR Cabka Earnings Call Transcripts
Fiscal Year 2025
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2025 saw stable revenues but significant margin and cash flow improvements, driven by disciplined execution and the SHIFT program. Contract manufacturing and sustainable products led segment growth, while net debt and leverage were reduced. 2026 is expected to bring revenue and EBITDA margin growth, with continued focus on operational excellence.
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The group is executing a two-phase strategy: first, maximizing efficiency and margins with current assets, then pursuing growth via innovation, premium eco products, and M&A. Financial guidance targets 6% CAGR to €215M by 2028, with EBITDA margin rising to 13%-15% and a return to dividends once leverage improves.
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H1 2025 revenue declined 2% year-over-year to €90 million, but gross operating margin improved by over 200 basis points. U.S. operations are recovering, contract manufacturing is up, and the company expects to meet full-year guidance with improved cash flow and continued cost discipline.
Fiscal Year 2024
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Sales declined 8% in 2024 due to price reductions and lower U.S. volumes, but gross margin improved to nearly 51%. The company is prioritizing cost control, operational efficiency, and growth, with no dividend for 2024 and a focus on achieving EUR 300 million sales by 2030.
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Revenue declined 11% year-over-year due to price adjustments and U.S. market weakness, but gross margin improved to 50.5% through operational efficiencies and automation. Full-year guidance was revised down, with a focus on cost control, innovation, and U.S. expansion.