MERSEN

Latest Results (17.10.2025):

Mersen has reported its financial results for the first quarter of 2025, achieving consolidated sales of €305 million. This represents a year-over-year decline of 6.4% on an organic basis and 2.5% on a reported basis. The company maintained its full-year guidance and anticipates improved organic growth in the upcoming quarter.

Q1 Sales Performance

In the first quarter of 2025, Mersen recorded consolidated sales of €305 million, marking a decrease of 6.4% organically and 2.5% on a reported basis compared to the same period last year. Price increases of approximately 1% were observed, while currency effects were primarily influenced by the US dollar and Chinese renminbi.

Segment Highlights

The Advanced Materials segment saw sales decline by 6.1% organically and 11.4% on a like-for-like basis, impacted by reduced demand in the solar and SiC semiconductor markets. Conversely, the Electrical Power segment experienced a 2% increase in reported sales, driven by growth in transportation, rail, and electric vehicle markets.

Regional Performance

Regionally, Europe experienced a slight organic decline of 1.4%, whereas Asia-Pacific faced a significant drop of 19.3% due to decreased sales in the Chinese solar market. North America showed resilience with a 5.1% growth, supported by recent acquisitions and strong performance in the isostatic graphite sector.

Market Trends and Future Outlook

Mersen expects a continued slowdown in the solar market in the second quarter, partially offset by growth in wind power and power electronics. The company remains optimistic about transportation markets, including rail projects and aeronautics, and anticipates better organic growth in the upcoming quarter compared to Q1.

2025 Guidance Confirmed

The company has reaffirmed its full-year 2025 guidance, projecting stable to increased reported sales based on current exchange rates. Mersen also expects an EBITDA margin of 16-16.5% and an operating margin of 9-9.5%, alongside capital expenditures in the range of €160 million to €170 million.