Fluidra Delivers a Strong First Half, With Sales up 5% to €1,227 Million and Growth Across All Regions
Adjusted EBITDA was up 6% year-on-year to €314 million, representing a 25.6% margin, with consistent gross margin improvement due to the Simplification Program and pricing actions, which more than offset negative geographic and product mix effects.
Net profit of €136 million was up 21% year-on-year. Fluidra continues to deleverage and, at the end of June, the ratio of net debt to Adjusted EBITDA was 2.3x, down 0.3x versus the prior year period.
Fluidra's Simplification Program continues to deliver, with €84 million cumulative savings to date. The program remains on track to achieve the €100 million savings target by year-end, supported by global procurement efficiencies and value engineering initiatives.
Offsetting tariffs impacts
Regarding tariffs, the company has implemented an action plan that is based on working with suppliers to realign its supply chain and reduce the cost base. Additionally, Fluidra implemented price increases in April in North America and is ready for the seasonal price increase in Q4. All in all, the company expects to fully offset tariffs' impacts in 2025.
Fluidra is confident in delivering its FY 2025 guidance and has narrowed the range to reflect a strong trading outlook and current FX, in particular a weaker US dollar. The company now expects 2025 sales between €2,160 and 2,220 million, Adjusted EBITDA between €500 and 520 million and Adjusted EPS between €1.33 and 1.40 per share.
Eloi Planes, Fluidra's Executive Chairman, said: 'Our trading to date was strong and our outlook is solid. We are confident in our ability to deliver sales and EBITDA growth for the full year by growing with our customers, executing our Simplification program, investing in the business, and focusing on what we can control. We are a global leader in an attractive industry driven by long-term structural growth dynamics; having positioned the business for growth and transformation.
We continue to focus on long-term value creation while taking action today. We continue to invest in our business and we expect that the Aiper transaction can be completed in the second half of the year, a game-changing partnership that will unite complementary strengths to deliver enhanced solutions to a broader customer base.'
Alternative performance measures (APMs)
Fluidra's financial statements are prepared according to IFRS and other applicable regulation. The financial information in this document also includes Alternative Performance Measures ('APMs'). For further details, please visit the following link.
About Fluidra
Fluidra S.A. (FDR:SM) is the global leader in pool and wellness equipment and connected solutions. It is included in the Ibex 35, the benchmark index of the Spanish stock market, and in the FTSE4Good Index Series, the benchmark sustainability index. Fluidra provides an extensive offer of innovative and connected products and services, operating in more than 47 countries. The company has a portfolio of some of the most recognized brands in the industry, including Jandy®, AstralPool®, Polaris®, Cepex®, Zodiac®, CTX Professional® and Gre®.
To learn more about Fluidra, visit www.fluidra.com.
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