Oeneo SA

Latest Results (31.05.2026):

Oeneo SA — Q4 of fiscal year 2024-2025 (year ended 31 March 2025): The Group delivered broadly stable revenue (€305.1m, -0.2% y/y) with improved profitability driven by a strong Closures division. Recurring operating profit rose to €45.5m (recurring operating margin 14.9%, up 0.9 pp), and Group net profit increased to €29.8m (+3.2%). Robust cash generation (operating cash flow €53.0m; free cash flow €38.0m) enabled a reduction in net debt to €57.1m (net gearing 17.6%). Management proposes an unchanged dividend of €0.35 per share and expects 2025-2026 to be a year of consolidation.

Revenue

Consolidated turnover for FY 2024-2025: €305.1m, essentially flat (-0.2%) versus the prior year. Closures grew +5.2% to €222.5m while Winemaking declined -12.3% to €82.6m.

Profitability

Recurring operating profit rose to €45.5m (+6.2%), delivering a recurring operating margin of 14.9% (up 0.9 percentage points). Operating profit after non‑recurring items was €43.5m (14.3% of sales).

Closures division

Closures turnover €222.5m (+5.2%). Recurring operating profit €45.8m (+26.6%) with a margin of 20.6% (improvement driven by higher Diam sales, better mix and lower cork prices).

Winemaking division

Winemaking turnover €82.6m (-12.3%). Recurring operating profit fell to €3.4m (-61.5%), margin 4.1%, impacted by weaker demand, adverse mix and high raw material costs; a major upstream reorganization is planned.

Cash, debt and investments

Operating cash flow €53.0m; investments €15.0m; free cash flow €38.0m (up from €27.6m). Net debt at €57.1m (including €5.2m IFRS16 leases), net gearing 17.6%. Reported cash position €39.4m.

Net profit, tax & financing

Group net profit €29.8m (+3.2%), net margin 9.8%. Tax expense €9.0m. Net financial expense €4.7m (gross cost of debt €5.3m), reflecting higher average gross debt partly offset by better currency effects.

Balance sheet & corporate actions

Shareholders’ equity €324.8m. The Board will propose maintaining the ordinary dividend at €0.35 per share. Consolidated financial statements were audited in full; the auditors’ report will be published with the annual financial report.

Outlook

Management expects 2025-2026 to be a year of consolidation with continued cost optimisation and no clear market improvement, particularly in Winemaking; focus remains on consolidating Closures’ market share and profitability.