Fluidra

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P/E ratio of 13x, free cash flow yield of 9%, Fluidra’s valuation looks attractive, say Jefferies

Analysed by Jefferies We foresee a more challenging outlook than expected for 2026, with high inflation, a likely different trajectory for interest rates and lower consumer confidence following events in the Middle East; however, we expect earnings to prove far more resilient than this year’s share price performance suggests (down 18% against a rise of 6% for the SXX). The valuation is now very attractive, with a P/E ratio of…


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Fluidra reports revenue of €564 million in Q1 2026, stable year-on-year, and organic growth of 5% due to US dollar

Jefferies | Although we note that Fluidra’s start to the financial year is broadly in line with JEFe’s forecasts and guidance for the financial year, adjusted EBITDA and earnings per share are 6% below first-quarter forecasts; however, we attribute this deviation primarily to the quarterly distribution of results. Revenue is broadly in line with a favourable combination of prices and volumes, and all regions are recording similar organic growth in…


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Moody’s confirms Fluidra’s long-term corporate family rating (CFR) at “Ba2” and upgrades outlook from “stable” to “positive”

Alphavalue / Divacons | On Friday, the rating agency confirmed Fluidra’s long-term corporate family rating (CFR) at “Ba2”, also raising its outlook from “stable” to “positive”. Moody’s bases this upgrade on the expectation that market operating conditions will continue to strengthen throughout 2026. Likewise, with the change in outlook, the agency reflects the operational resilience shown by the company despite the slowdown in the sector.


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Fluidra posts net profit of €176 million in 2025 (up 27%) and EBITDA of €395 million

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…


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Fluidra president concerned about US tariffs; company raises prices in North America by 3.5%

Link Securities | Fluidra (FDR) is concerned about the US tariffs due to the uncertainty they cause, although it recognises that, for the moment, they have had no impact on its accounts, according to the president, Eloi Planes, who told Expansión on Tuesday. The executive described the tariffs as a negative roller coaster for the economy and recalled that FDR has studied with its suppliers a realignment of the supply…


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Fluidra agrees to acquire pool cover manufacturer BAC pool Systems

Alphavalue/DIVACONS | The Spanish pool and spa company has agreed to acquire pool cover manufacturer BAC pool Systems. The financial terms of the deal have not been disclosed. BAC, which focuses on the German and Swiss markets, has a team of around 60 employees and by 2024 estimates sales and adjusted EBITDA of around €13 million and €2.5 million, respectively.


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Fluidra announces agreement to acquire Australia’s leading filtration systems manufacturer Chadson Engineering

Link Securities | Spanish company Fluidra (FDR), which specialises in connected pool and wellness equipment and solutions, announced on Monday an agreement to acquire Chadson Engineering, a leading designer and manufacturer of granular and regenerative filtration systems. This acquisition complements Fluidra’ s commercial pool product offering and enhances its ability to offer a wide range of solutions to customers in the Asia-Pacific region. With over 50 years’ experience and based…


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Fluidra buys all of Meranus Group for some €30 M

Link Securities | On December 23, 2022 Fluidra Commercial, S.A.U., an indirectly fully controlled subsidiary of Fluidra, reached an agreement to fully acquire the German companies Meranus Haan, Meranus Lauchhammer and Aquacontrol. These firms together form the Meranus Group, a recognized swimming pool equipment distributor in Germany. It is also a manufacturer of swimming pool dosing and control technology. Meranus’ expected revenues for the year ending 31 December 2022 are…


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Fluidra will fully control Hungarian firm Kerex after buying 73,2% for €4,5 M

Intermoney | Fluidra has informed the Stock Market Regulator (CNMV) that it will fully control Hungarian firm Kerex after buying 73,2% for 4,5 million euros. The transaction is expected to be closed in September 2022. This is after the usual suspensory conditions in this kind of deal have been met, and provided there is no material adverse change which negatively and significantly affects Kerex between the Signing and the Close…


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Fluidra Converts €130 M Syndicated Credit Line Into ‘Green’ Financing

Fluidra has signed an agreement to convert a 130 million euros syndicated credit line subscribed in 2018 into ‘green’ financing. BBVA acted as a sustainable coordinator for the process. So from now on, the conditions of this financing are subject to the company’s performance in environmental, social and governance (ESG) matters. This is the first sustainable financing formalised by a company in the sector and will be used to cover the firm’s working capital needs.