Langeais - December 16, 2025
| In € million Unaudited figures[1] | 2023-2024[2] | 2024-2025 | Change | ||||
| Turnover | 703.5 | 703.1 | -0.1% | ||||
| Gross margin | 337.9 | 347.0 | +2.7% | ||||
| Gross margin (as a %) | 48.0% | 49.4% | +1.4 points | ||||
| EBITDA* | 54.2 | 63.2 | +16.6% | ||||
| EBITDA margin | 7.7% | 9.0% | +1.3 points | ||||
| Recurring operating income | 12.7 | 18.1 | +42.7% | ||||
| Recurring operating margin | 1.8% | 2.6% | +0.8 points | ||||
| Operating income | 14.1 | 1.6 | -88.9% | ||||
| Net income (loss) from continuing operations | (2.2) | (13.9) | - | ||||
| Net income (loss) from discontinued operations or assets held for sale | (41.9) | - | - | ||||
| Net income (loss) attributable to the group | (45.1) | (15.2) | - |
* Recurring operating income before net allocations to amortization, depreciation and provisions.
In 2024-2025, Plastivaloire Group posted turnover of €703.1 million, stable year on year (down 0.1% compared to 2023-2024), but up slightly at constant exchange rates (€712.6 million, up 1.3%). This resilience in a complex environment was supported by a recovery in operating profitability, thanks to an improved gross margin and the industrial streamlining measures implemented by the Group in recent years.
EBITDA margin therefore came in at 9.0% for the year (7.7% in 2023-2024), exceeding the Group's target ("above 8%"), thanks in particular to a solid second-half performance (EBITDA margin of 9.3%).
Net income (loss) attributable to the group also improved, climbing €30 million, but remained negative due to non-recurring expenses (€16.5 million) notably linked to measures to optimize industrial facilities (closure of the Langeais test center and closure of the Mamers site, with the transfer of activities to Sablé-sur-Sarthe and Langeais). Excluding these one-off impacts, the figure would have been positive.
Plastivaloire also strengthened its financial structure during the 2024-2025 financial year. Free cash flow generated (positive €46.6 million) enabled the Group to reduce net debt to €162.6 million at end-September 2025 (vs. €191.4 million at September 30, 2024). The net debt to EBITDA ratio therefore stood at 2.6, down from 3.5 last year. At September 30, 2025, the Group held available cash of €99 million.
Full-year turnover: €703.1 million
Plastivaloire Group recorded full-year turnover of €703.1 million, stable compared with the previous year (down 0.1% compared to 2023-2024).
Over the full year, the contribution made by the Automotive division (parts and tooling) amounted to €584.0 million or 83.1% of total turnover, up 0.5% year on year in a persistently challenging market. The Industries division recorded turnover of €119.1 million, down 2.9% year on year, but with a better performance in the second half. It accounts for 16.9% of the Group's total turnover.
Geographically, turnover in Europe[3] was up 1.8% at €611.4 million (up 2.3% at constant exchange rates), while turnover in the Americas region (United States and Mexico) came in at €91.7 million, down 10.9% (down 4.6% at constant exchange rates), affected by the completion of certain programs and the slower-than-anticipated launch of other projects.
Annual EBITDA margin: 9.0%
The Group's annual gross margin climbed to 49.4%, up 1.4 points on 2023-2024. This positive trend reflects an improved operating performance across the Group and a favorable product mix (in particular the tooling/parts mix).
Other operating expenses (including payroll costs and temporary staff) remained stable (€283.8 million, vs. €283.7 million in 2023-2024).
The Group's annual EBITDA margin therefore improved to 9.0%, compared to 7.7% last year.
After allocations to amortization and depreciation, and net movements in provisions and impairment of €45.1 million (vs. €41.5 million in 2023-2024), reflecting the major capital expenditure in prior periods, Plastivaloire posted recurring operating income of €18.1 million, up 42.5% compared to 2023-2024 (€12.7 million).
Due to non-recurring expenses (€16.5 million) mainly relating to the closure of the Langeais test center and the Mamers site, operating income came to €1.6 million (€14.1 million in 2023-2024).
Net financial expense came to €11.1 million (vs. €12.5 million in 2023-2024), an improvement over the year attributable to unrealized foreign exchange gains. The 2023-2024 financial year recorded an unrealized loss of €2.3 million.
Taking into account the tax expense of €4.3 million, the Group posted a net loss of €13.9 million, bringing net income (loss) attributable to the group to €15.2 million (loss of €45.1 million in 2023-2024).
Financial structure: good cash generation and reduced debt
Cash flow from operations totaled €63.2 million, comprising cash flow from operating activities of €60.0 million, a €7.1 million improvement in working capital requirement, and tax outflows of €4.0 million.
Following the major investments made over the previous two years, investment outflows were significantly lower in 2024-2025, coming in at €16.6 million for the year (vs. €39.4 million in 2023?2024).
As a result, free cash flow amounted to €46.6 million (vs. negative €3.3 million in 2023-2024), allowing for a slight reduction in the Group's net debt (after payment of interest).
Available cash rose to €99.0 million at September 30, 2025 (up €28.6 million year on year).
The Group's net debt, including €17.2 million in lease liabilities, decreased to €162.6 million (vs. €191.4 million at September 30, 2024), with shareholders' equity of €176.3 million, representing a net gearing ratio of 92.2% (82.5% excluding lease liabilities).
The net debt to EBITDA ratio stood at 2.6, an improvement on the previous year (3.5), confirming the Group's debt reduction trajectory.
The Group obtained a waiver from its financial partners concerning the minimum EBITDA threshold of €64 million stipulated in its loan agreements for the 2024-2025 financial year. The other two covenants (leverage ratio and minimum gross cash position) were met.
Plastivaloire is continuing to reduce its environmental footprint
The 2024-2025 full-year results for the main indicators monitored demonstrate the relevance of the measures undertaken by the Group to continue reducing the environmental impact of its activities. Despite stable business levels, Plastivaloire reduced its greenhouse gas emissions (scopes 1 and 2) by 15% in one year, and its carbon intensity fell by 43% over the last four years. In 2024-2025, the Group also continued to reduce its waste production and exceeded its sustainable procurement targets (19.1%, compared with a threshold of 15% set for 2025).
Finally, EcoVadis, the benchmark for CSR performance assessment, awarded Plastivaloire a Bronze medal, with a score of 67/100 in 2025 (vs. 50/100 in 2024). This rating recognizes the actions and measures taken by the Group across all four pillars (Environment, Labor & Human Rights, Ethics and Sustainable Procurement).
Order intake of over €500 million in 2024-2025
Plastivaloire Group recorded total "parts" order intake of €501 million over the year. This figure was constrained by order deferrals, some of which materialized at the start of the current year, with over €220 million in "parts" orders received to date since October 1, 2025.
2025-2026 outlook
In an economic environment that remains challenging and uncertain, and based on current market forecasts, Plastivaloire Group will continue to rely on a portfolio of programs in the Automotive division that enabled it to outperform the European market in 2024-2025, as well as on the various launches (around 21) scheduled for this year.
The Group remains vigilant and continues its efforts to adapt its cost and financing structure to its business level.
Regarding industrial streamlining measures, the closure of the Mamers (Sarthe) site remains on schedule, with industrial activity scheduled to cease by December 31, 2025.
The level of investment planned for this year is expected to increase, but will nevertheless remain significantly lower than in the 2022-2023 and 2023-2024 financial years.
The Group therefore anticipates turnover of around €690 million for 2025-2026, slightly lower than the 2024-2025 figure, and an EBITDA margin of around 9%.
Antoine Doutriaux, Chief Executive Officer of Plastivaloire Group, said; "Plastivaloire Group delivered a solid performance during the 2024-2025 financial year, recording improvements in all of our economic fundamentals. In terms of turnover, we outperformed overall our markets, particularly in the Automotive division, and continued to focus on the recovery of our operating performance while continuing efforts to reduce our debt. We intend to confirm this trajectory during the current financial year, and are actively working on expanding our customer portfolio in order to boost our order intake, with a rebound expected in 2025-2026 supported by the strong momentum seen in the first two months of the year."
Next financial publication: February 17, 2026:
First-quarter 2025-2026 turnover
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About Plastivaloire Group:
Plastivaloire Group ranks amongst the very top European manufacturers of complex plastic parts used in retail consumer products.
Using innovative solutions, it designs and manufactures these high-tech plastic parts and handles their mass production for the motor vehicle and industries sectors.
Plastivaloire Group has more than 5,050 employees and 27 production sites in France, the United States, Poland, Spain, Romania, Turkey, Tunisia, the United Kingdom, Portugal, Slovakia and Mexico.
Number of shares: 22,125,600 - Euronext Paris, Segment B - ISIN: FR0013252186 - PVL
Reuters: PLVP.PA - Bloomberg: PVL.FP
Contacts
Plastivaloire Group:
Vanessa Findeling on +33 (0)2 47 96 15 15
ACTUS finance & communication:
Investor Relations:
Guillaume Le Floch on +33 (0)1 53 67 36 70
Pierre Jacquemin-Guillaume on +33 (0) 1 53 67 36 79
Press Relations:
Amaury Dugast on +33 (0)1 53 67 36 74
[1] As the audit procedures relating to the consolidated financial statements are currently ongoing, the results presented are provisional. Plastivaloire's consolidated statements for the 2024-2025 financial year, ended September 30, 2025, will be approved by its Board of Directors in January 2026. The auditors' report will be published once the procedures required for the release of the annual financial report have been completed.
[2] Restatements for the 2023-2024 financial year concern the reclassification of the businesses sold in 2024 as discontinued operations, to ensure comparability.
[3] Including activities in Tunisia and Turkey.
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