SergeFerrari Defies Market Slump with Impressive 2025 Profit Rebound

SAINT-JEAN-DE-SOUDAIN, France – March 11, 2026 – SergeFerrari Group, a global leader in innovative composite materials, today announced a remarkable financial turnaround for its 2025 fiscal year, posting a net profit of €5.4 million. The result marks a significant recovery from a €15.2 million net loss in 2024, demonstrating the company's ability to navigate a complex economic landscape defined by sluggish end markets, volatile raw material prices, and persistent geopolitical uncertainty.

The French manufacturer reported full-year revenue of €347.5 million, an increase of 7.4% over the previous year. This growth, coupled with a surge in profitability, underscores the success of the company's strategic initiatives aimed at bolstering operational efficiency and market position. EBITDA soared by 41.4% to €29.6 million, signaling a robust improvement in core operational performance.

A Strategic Turnaround Fueled by 'Transform 2025'

The dramatic swing from a substantial loss to solid profitability was not accidental. It was the direct result of a concerted strategic effort, primarily the 'Transform 2025' plan, and a clarification of the one-off events that marred the 2024 results. The €15.2 million loss in 2024 was heavily impacted by nearly €11 million in exceptional, non-recurring charges linked to the restructuring of its German subsidiary, Verseidag-Indutex GmbH, and the strategic transfer of some activities to its main site in La Tour du Pin, France.

With those one-time costs in the rearview mirror, the benefits of the restructuring became clear in 2025. The 'Transform 2025' plan, designed to optimize the company's cost structure and streamline operations, generated €1.1 million in savings during the year, directly contributing to the enhanced profitability. This internal reorganization involved adapting cost structures to market volumes and consolidating logistics and other cross-functional activities, a move that required significant short-term investment but has now begun to yield long-term efficiency gains.

"Despite a difficult environment... the group delivered a very strong performance, as illustrated by revenue growth, a significant improvement in profitability, and control of its working capital requirements," stated Sébastien Baril, Chairman of the Executive Board. He credited the results to "technical excellence, mastery of our products, and our commitment to meeting our customers' needs," alongside the efforts of the group's teams.

Navigating a Volatile Materials Market

SergeFerrari’s 7.9% revenue growth at constant scope and currency is particularly noteworthy given the intense pressure on global supply chains. The company faced what Baril described as "rising raw material prices," a challenge that plagued manufacturers worldwide. A key pain point was the market for antimony, a critical mineral used as a flame retardant in many of the group's high-performance textiles.

Throughout 2025, antimony prices experienced significant volatility. Prices surged in the first quarter, driven by Chinese export restrictions and escalating trade tensions, disrupting supply chains and forcing industries to secure alternative sources. This upward pressure continued, fueled by strong demand from the green energy sector for batteries and other components.

In response, SergeFerrari implemented a proactive pricing strategy. Earlier financial disclosures revealed the company successfully passed on the sharp increases in raw material costs to customers, a "price effect that was essential for the group in order to protect its margin volume." This ability to adjust prices without losing market share speaks to the value customers place on its highly specialized and proprietary composite materials, which are used in applications ranging from tensile architecture and solar protection to high-end furniture.

Growth Dynamics and a Cautious Outlook

The company's commercial activity was sustained for most of the year, with the first three quarters showing particularly strong growth. However, the final quarter of 2025 saw a slight revenue decline of 1.8% compared to the same period in 2024. This dip was measured against a historically high comparative base, as Q4 2024 was a record-breaking quarter for the company. Management attributed the slight slowdown to a "more mixed market environment" and a "wait-and-see attitude" from some customers at year-end.

A regional breakdown shows a more nuanced picture. While the overall Q4 figure softened, sales momentum remained exceptionally strong in the Americas (+31.4%) and favorable in the Asia-Pacific, Middle East, and Africa region (+16.4%). This suggests the caution was more concentrated in its European markets, a sentiment that aligns with broader economic trends. The European construction sector, a key end market for SergeFerrari's architectural materials, recorded zero growth in 2025 after contracting the previous year. While a modest recovery of 1.5% is forecast for 2026, persistent high interest rates and tight credit conditions support the company's cautious stance.

Looking ahead, the group acknowledges "continuing low visibility" in the market. In response, its focus for 2026 will be to "continue to optimize and secure its cost structure to support the ongoing improvement of its profitability," rather than issuing aggressive growth forecasts.

A Strengthened Foundation for an Uncertain Future

Beyond the headline profit and revenue figures, SergeFerrari significantly bolstered its financial foundation in 2025. The company successfully reduced its net debt to €114.7 million from €125.2 million a year prior. This deleveraging is even more apparent in its leverage ratio (net debt to EBITDA), which improved dramatically from 3.7 in 2024 to a much healthier 2.3 in 2025.

This strengthened balance sheet was further secured by a successful €105 million refinancing package finalized in December 2025, providing financial stability and flexibility for the coming years. The group also demonstrated tighter operational control, reducing its operating working capital requirements as a percentage of revenue from 37.7% to 34.1%.

These improvements place SergeFerrari on solid footing as it confronts an uncertain 2026. While the immediate outlook may be clouded by macroeconomic caution, the broader market for advanced composite materials remains robust. Driven by global trends toward lightweighting in transportation, sustainability in construction, and the expansion of renewable energy, the market is projected to grow at a strong single-digit CAGR through the next decade. With its proven technical expertise, a leaner operational structure, and a fortified balance sheet, SergeFerrari appears well-equipped to navigate the short-term headwinds and capitalize on long-term industry growth.