Full Year 2025 Accsys Technologies PLC Earnings Call Transcript
Key Points
- Accsys Technologies PLC (ACSYF) reported a 125% year-on-year improvement in EBITDA, driven by strong volume growth and cost discipline.
- Accoya demand was solid, with global volumes growing by 13%, including a 16% increase in North America.
- The company successfully commissioned Accoya USA, marking a significant milestone in international expansion and reducing exposure to large-scale CapEx commitments.
- Operational cost savings of EUR4.6 million were achieved, exceeding the target of EUR3 million.
- The leverage ratio improved from 4.4x to 2.5x, highlighting good progression in deleveraging the business.
- Group revenues remained flat at EUR136.6 million, despite the growth in volumes.
- Net debt increased to EUR42.6 million, reflecting higher investments in joint ventures and inventories.
- The share of EBITDA loss for the joint venture was EUR6 million, indicating challenges in the ramp-up phase.
- The company faced macroeconomic challenges, impacting the building materials market.
- The liquidation of the Hull plant resulted in non-exceptional operating costs of EUR2.1 million.
Good morning, everybody, and welcome to Accsys Financial year '25 results call. I am very excited and pleased to report that Axis has delivered a strong set of results this year, marking a pivotal moment in our transformation journey.
This encouraging trajectory reflects the growing momentum we are building across our core markets against the challenging macroeconomic backdrop. As some of you may know, in January 2025 we launched our focused strategy, which is already delivering tangible results.
Our EBITDA improved by 125% year-on-year underpinned by strong volume growth across all regions and powered by cost and pricing discipline. Underlying EBITDA from group core operations, excluding the joint venture, increased by EUR8.3 million to EUR16.8 million and 12.3% margin, demonstrating not only the absolute increase but also significant improvement of quality of earnings in our core operations.
Accoya demand was solid. Volumes grew 13% around the globe with 16% growth in the North America. The double
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