DJ GEVELOT S.A.: PRESS RELEASE CLOSING OF 2025 ACCOUNTS
GEVELOT S.A.
GEVELOT S.A.: PRESS RELEASE CLOSING OF 2025 ACCOUNTS
09-Apr-2026 / 21:01 CET/CEST
Dissemination of a French Regulatory News, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
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The Board of Directors met on April 9, 2026 to approve the Company's financial statements in accordance with French
accounting rules and principles and the consolidated accounts for 2025 prepared in accordance with International
Accounting Standards, after obtaining confirmation by the Auditors that the audit procedures had been carried out and
that certification reports were being issued.
Regarding the consolidated accounts:
Consolidated Accounts
FY 2025 FY 2024
(in millions of euros)
Turnover 156.3 138.1
Current operating income 6.7 2.7
Operating income 6.4 2.3
Financial Income (Loss) 0.1 3.0
Pre - tax Income of Consolidated Companies 6.5 5.3
Taxes -2.2 -1.5
Share of income from equity-method companies -0.8 -0.1
Net Consolidated Income 3.4 3.8
Income attributable to non-controlling interests 0.5 0.5
Income attributable to Consolidating Company 2.9 3.3
Consolidated turnover for 2025 fiscal year amounted to EUR156.3 million. It is primarily driven by the Pumps segment, with the Group's other activity relating to real estate at the holding level. Revenue increased by 13.2% (+16.9% at constant exchange rates). This growth is observed across all business lines, with particularly strong momentum in the Americas and the Middle East.
The Group's consolidated recurring operating income reached EUR6.7 million, up from EUR2.7 million in 2024, representing an increase of EUR4.0 million.
The Pumps segment contributed EUR7.7 million, compared with EUR4.1 million in the previous year. For comparison, the 2024 result included EUR2.6 million in exceptional royalties related to a license agreement that expired; adjusted for this non-recurring item, the operational improvement amounts to EUR6.2 million.
Overall, the Group's profitability improved over the year, although it remains affected by certain unfavorable factors. These include the presence of lower-margin projects, a less favorable sales mix, and the recognition of inventory write-downs. Performance also continues to be impacted by the incomplete absorption of certain fixed costs, which are in the process of normalizing.
The contribution of Gevelot SA's holding company operating activity remains negative at EUR(1.0) million, improving from EUR(1.3) million in the previous year.
EBITDA also increased, reflecting an improvement in operating performance.
Operating income amounted to EUR6.4 million, compared with EUR2.3 million in 2024, representing an increase of EUR4.1 million.
Net financial income came to EUR0.1 million, compared with EUR3.0 million in 2024.
This decrease is mainly due to a deterioration driven by negative foreign exchange effects of approximately EUR2.4 million, as well as a reduction in cash income of around EUR1.0 million.
As observed in the first half of the year, the Group was exposed to significant currency volatility related to its operating activities. Although exchange rate conditions evolved in the second half, with in particular a normalization of the US dollar compared to mid-year levels, the overall impact remains unfavorable for the year, due to the depreciation of several operating currencies, particularly in Central Asia and Oceania.
In addition, this change reflects an unfavorable effect linked to non-recurring items recorded last year, notably in terms of cash income. Nevertheless, it does not call into question the overall quality of investment returns.
The holding company's cash remains primarily invested in fixed-rate instruments with medium-term maturities, ensuring a steady return on available surplus cash. This strategy continues to support financial income in an environment of interest rate normalization.
These effects are partially offset by an increase in other financial income of EUR0.6 million.
In 2025, the Group's consolidated net income tax expense amounted to EUR2.2 million, compared with EUR1.5 million in 2024.
Total consolidated net income for 2025 came to a profit of EUR3.4 million, compared with a positive EUR3.8 million in 2024.
The share of profit (loss) of equity-accounted companies amounted to EUR(0.8) million. This mainly reflects a minority interest that was subject to an impairment test during the year, leading to the recognition of a EUR0.9 million impairment loss at the consolidated level, significantly affecting its contribution, while the operating contribution of the other equity-accounted companies remained broadly at break-even.
Ultimately, net income attributable to Gévelot, the consolidating entity, for the 2025 financial year amounted to a profit of EUR2.9 million, compared with EUR3.3 million in 2024 (including EUR2.3 million in royalties).
Cash flow from operations remained positive at EUR10.0 million, compared with EUR9.9 million in 2024.
The Group's consolidated net financial position remains strong, standing at EUR111.9 million as of December 31, 2025, compared with EUR109.2 million as of December 31, 2024. This EUR2.7 million increase reflects higher overall cash levels and notably includes the contribution of the Pumps segment to the Group's cash generation.
Regarding Gévelot SA, the Group's Holding company,
Revenue for the 2025 financial year, consisting of rental income and services, remained stable at EUR1.1 million.
Gévelot SA's operating result remained negative at EUR(1.0) million, compared with a loss of EUR(1.3) million in 2024.
Financial income remained positive at EUR5.2 million in 2025, compared with EUR18.8 million in 2024. This change is mainly explained by the payment of an exceptional dividend of EUR15.0 million in 2024. Financial income also includes EUR3.3 million in net financial income, compared with EUR3.8 million in the previous year.
Non-recurring income was nil in 2025, whereas the previous year benefited from net income of EUR0.96 million, including non-recurring items related to the derecognition of residual values of certain real estate assets following their reclassification as investment property.
After taking into account corporate income tax of EUR1.1 million, Gévelot S.A.'s statutory net income amounted to EUR3.1 million in 2025, compared with EUR17.8 million in 2024.
Recent volatility in financial markets, combined with the effects of conflicts in the Near and Middle East, is creating a highly uncertain operating environment.
These conflicts have already led to a significant deterioration in logistical conditions in the region, with repercussions gradually extending worldwide. This has resulted in a sharp increase in transport and insurance costs, notably due to exceptional surcharges as well as higher costs and reduced availability of insurance coverage. In addition, some transport capacities have been reduced or even temporarily suspended, leading to delays, significant additional costs, and increased difficulties in serving certain geographic areas.
At the same time, a gradual spread of these disruptions across global logistics flows is anticipated, particularly affecting supply chains for raw materials and components, especially those sourced from Asia.
At this stage, the Group does not have sufficient medium-term visibility regarding potential supply disruptions or the continuity of operations in certain regions, particularly in the Middle East. In the event of a deterioration in the situation, around 10% of the Group's revenue could be exposed-beyond current opportunities-which could potentially affect growth prospects and profitability for the current year. However, no significant deterioration has been observed in the first quarter of 2026.
In this context, the Group is maintaining a prudent approach and remains fully mobilized to adapt its operations, limit potential impacts on its business, and continue executing its strategy for the coming years.
It will be proposed at the Combined General Meeting of Shareholders, to be held on Thursday, June 11, 2026, to distribute a dividend of EUR5.00 per share.
Information available on our website: www.gevelot-sa.fr
Website: www.gevelot-sa.fr
Listing on Euronext Growth: ALGEV - ISIN: FR0000033888
Contact Next press release:
contact@gevelot-sa.fr Combined General Meeting of June 11, 2026
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