Italy · Delayed Price · Currency is EUR Buzzi Earnings Call Transcripts
Fiscal Year 2025
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2025 saw slight revenue growth and strong cash flow, but EBITDA declined 3% year-over-year due to cost pressures and weaker U.S. performance. Outlook for 2026 is stable with a marginal EBITDA decline expected, while energy costs and forex remain key risks.
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First half 2025 saw solid results with revenue up 6% and strong cash generation, but EBITDA declined 4% due to weaker U.S. performance, FX headwinds, and one-off costs. Management is optimistic for H2, expecting improved volumes and margins, with full-year EBITDA guidance at EUR 1.1–1.2 billion.
Fiscal Year 2024
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Profitability and margins improved year-over-year, supported by cost savings and stable pricing, despite weak volumes in key markets. Shareholder returns rose with higher dividends and buybacks, while 2025 is expected to be challenging due to rising costs and uncertain demand.
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H1 2024 saw resilient margins and strong cash generation despite lower volumes, with the U.S. and Italy outperforming and Central Europe lagging. Full-year recurring EBITDA is expected near 2023's record, with higher CapEx for decarbonization and modernization.