Alphavalue/Divacons | The Barcelona-based swimming pool and spa company (market cap €4.6 billion) has announced its results for the 2025 financial year.
Sales of €2.18 billion; gross margin of 56.6%; EBITDA of €395 million. Net operating expenses down 0.6% year-on-year; net profit of €176 million (up 27% year-on-year); EPS of €0.927 per share compared to €0.727 per share year-on-year.
Net debt falls to €1.0866 billion. Looking ahead to 2026, they estimate sales growth of 3% to 7%. We expect declines.
