Oeneo SA

Latest Results (20.04.2026):

Oeneo SA — annual results for financial year 2024-2025 (year ended March 31, 2025; this is an annual report, not a quarterly report). Group turnover was virtually stable at €305.1m; recurring operating margin improved to 14.9% and recurring operating profit rose to €45.5m, driven by a strong Closures division. Group net profit (group share) increased to €29.8m and free cash flow strengthened to €38.0m, allowing net debt to fall to €57.1m (17.6% of equity). The Board will recommend an unchanged ordinary dividend of €0.35 per share. Management expects 2025-2026 to be a year of consolidation and continued cost optimisation.

Revenue

Consolidated turnover: €305.1m (‑0.2% vs 2023-24). Closures: €222.5m (+5.2%). Winemaking: €82.6m (‑12.3%).

Recurring profitability

Recurring operating profit: €45.5m (+6.2%). Recurring operating margin: 14.9% (up 0.9 percentage points). Operating profit after non‑recurring items: €43.5m (14.3% of turnover).

Net profit and margins

Group net profit: €29.8m (+3.2%), net margin 9.8%. Tax expense €9.0m; net financial expense €4.7m (gross finance cost €5.3m).

Closures division

Turnover €222.5m (+5.2%), recurring operating profit €45.8m (+26.6%), recurring margin 20.6% (up ~3.5 points). Growth driven by >8% rise in DIAM closures and favourable product mix; benefited from lower cork prices.

Winemaking division

Turnover €82.6m (‑12.3%). Recurring operating profit €3.4m (‑61.5%), margin 4.1%. Decline reflects weak barrel/service demand, less favourable mix and high raw material costs; upstream reorganisation planned.

Cash flow & balance sheet

Cash flow from operations €53.0m (vs €48.7m). Capex €15.0m. Free cash flow €38.0m (up from €27.6m). Net debt €57.1m (includes €5.2m IFRS16 leases); net gearing 17.6%. Cash position €39.4m. Shareholders’ equity €324.8m.

Dividend & capital allocation

Board to propose unchanged ordinary dividend: €0.35 per share. Free cash flow covered capex, dividend payments and debt reduction.

Audit & outlook

Consolidated financial statements were approved by the Board and fully audited; auditors’ report to follow. Management expects 2025-2026 to be a consolidation year with ongoing cost optimisation and no clear market improvement anticipated.