• Q4 2025 revenue increased by 8% to EUR 61.5 million (Q4 2024: EUR 57.0 million)
• FY 2025 revenue of EUR 245.5 million, a 1% decrease compared to FY 2024 (EUR 247.5 million)
• Q4 2025 normalized EBITDA increased by 73% to EUR 9.7 million, or 15.8% of revenue (Q4 2024: EUR 5.6 million; 9.8%)
• FY 2025 normalized EBITDA increased by 15% to EUR 38.1 million, representing 15.5% of revenue (FY 2024: EUR 33.2 million; 13.4%)
• Strong improvement in profitability driven by added-value margin expansion, disciplined cost control, and operational efficiency initiatives
• Paid a special dividend of EUR 1.00 per share and launched a EUR 10 million share buyback program
• Normalized free cash flow of EUR 25.6 million (FY 2024: negative EUR 3.0 million)
• Year-end leverage ratio reduced to 0.8 (year-end 2024: 2.7)
• Proposed FY 2025 dividend of EUR 0.70 per share, reflecting a 61% payout ratio of normalized net profit before amortization (FY 2024: EUR 0.45 per share)
Joep van Beurden, Kendrion CEO:
"2025 was a pivotal year for Kendrion, both strategically and operationally. With the successful sale of six automotive factories to Solero in February and the management buyout of our China operations in October, we completed our transition to a pure play industrial motion control company. Profitability strengthened as we expanded our added-value margin and maintained disciplined cost management. Following the divestment of our China-based activities, we returned part of the proceeds to shareholders through a EUR 1.00 per share special dividend and the launch of a EUR 10 million share buyback program.
Q4 revenue from continued operations increased by 8% year over year (y-o-y) and exceeded Q3 levels, despite the seasonally shorter quarter. Q4 normalized EBITDA rose sharply by 73%, y-o-y reflecting strong operational leverage. EBITDA growth was driven by higher volumes in Industrial Actuators & Controls (IAC) and continued margin expansion in Industrial Brakes (IB) and Mobility. In IB, the project pipeline doubled following the integration of sales, product management, and R&D teams. IAC is also managing a record number of new customer projects.
Full year revenue was broadly stable, with strong second-half performance-particularly in Q4-largely offsetting the softer first half. Normalized EBITDA increased by 15% y-o-y and reached 15.5% of revenue, achieving our 15-18% target range one year ahead of schedule. Cash flow was strong at EUR 25.6 million. We closed the year with net debt of EUR 30.3 million, a significant improvement from EUR 103.4 million at year end 2024.
We are well positioned to benefit from powerful secular growth trends, with artificial intelligence acting as a key catalyst. This is accelerating demand for smarter, more autonomous industrial machinery, particularly in robotics, industrial automation, integrated safety systems, and medical technology. At the same time, rising electricity demand and energy security requirements are driving investment in wind and nuclear power, as well as in broader electrification and energy transportation infrastructure. With our sharpened strategic focus, strong balance sheet, and disciplined capital allocation framework, we are confident in our ability to convert these trends into sustainable long term value for our customers, employees, and shareholders.
Looking ahead to 2026, we expect the positive momentum from Q4 to continue. This outlook is supported by strong interest in recently launched products across IB and IAC. Combined with improving economic conditions, a rapidly expanding project pipeline, and deepening customer engagement, we are confident in delivering further profitable growth in 2026 and beyond."
Download full press release:
https://www.kendrion.com/fileadmin/user_upload/Downloads/Press_releases/PR_2026/Q4FY2025_-Press_release_Kendrion_FINAL.pdf
• FY 2025 revenue of EUR 245.5 million, a 1% decrease compared to FY 2024 (EUR 247.5 million)
• Q4 2025 normalized EBITDA increased by 73% to EUR 9.7 million, or 15.8% of revenue (Q4 2024: EUR 5.6 million; 9.8%)
• FY 2025 normalized EBITDA increased by 15% to EUR 38.1 million, representing 15.5% of revenue (FY 2024: EUR 33.2 million; 13.4%)
• Strong improvement in profitability driven by added-value margin expansion, disciplined cost control, and operational efficiency initiatives
• Paid a special dividend of EUR 1.00 per share and launched a EUR 10 million share buyback program
• Normalized free cash flow of EUR 25.6 million (FY 2024: negative EUR 3.0 million)
• Year-end leverage ratio reduced to 0.8 (year-end 2024: 2.7)
• Proposed FY 2025 dividend of EUR 0.70 per share, reflecting a 61% payout ratio of normalized net profit before amortization (FY 2024: EUR 0.45 per share)
Joep van Beurden, Kendrion CEO:
"2025 was a pivotal year for Kendrion, both strategically and operationally. With the successful sale of six automotive factories to Solero in February and the management buyout of our China operations in October, we completed our transition to a pure play industrial motion control company. Profitability strengthened as we expanded our added-value margin and maintained disciplined cost management. Following the divestment of our China-based activities, we returned part of the proceeds to shareholders through a EUR 1.00 per share special dividend and the launch of a EUR 10 million share buyback program.
Q4 revenue from continued operations increased by 8% year over year (y-o-y) and exceeded Q3 levels, despite the seasonally shorter quarter. Q4 normalized EBITDA rose sharply by 73%, y-o-y reflecting strong operational leverage. EBITDA growth was driven by higher volumes in Industrial Actuators & Controls (IAC) and continued margin expansion in Industrial Brakes (IB) and Mobility. In IB, the project pipeline doubled following the integration of sales, product management, and R&D teams. IAC is also managing a record number of new customer projects.
Full year revenue was broadly stable, with strong second-half performance-particularly in Q4-largely offsetting the softer first half. Normalized EBITDA increased by 15% y-o-y and reached 15.5% of revenue, achieving our 15-18% target range one year ahead of schedule. Cash flow was strong at EUR 25.6 million. We closed the year with net debt of EUR 30.3 million, a significant improvement from EUR 103.4 million at year end 2024.
We are well positioned to benefit from powerful secular growth trends, with artificial intelligence acting as a key catalyst. This is accelerating demand for smarter, more autonomous industrial machinery, particularly in robotics, industrial automation, integrated safety systems, and medical technology. At the same time, rising electricity demand and energy security requirements are driving investment in wind and nuclear power, as well as in broader electrification and energy transportation infrastructure. With our sharpened strategic focus, strong balance sheet, and disciplined capital allocation framework, we are confident in our ability to convert these trends into sustainable long term value for our customers, employees, and shareholders.
Looking ahead to 2026, we expect the positive momentum from Q4 to continue. This outlook is supported by strong interest in recently launched products across IB and IAC. Combined with improving economic conditions, a rapidly expanding project pipeline, and deepening customer engagement, we are confident in delivering further profitable growth in 2026 and beyond."
Download full press release:
https://www.kendrion.com/fileadmin/user_upload/Downloads/Press_releases/PR_2026/Q4FY2025_-Press_release_Kendrion_FINAL.pdf
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