Belysse Group reported a 7.1% drop in revenue for 2025, with total sales reaching €254.2 million, reflecting challenging market conditions across both the United States and Europe. The company's U.S. division Bentley Mills recorded a 7% decline, mainly due to lower volumes and currency headwinds, while the European business Modulyss experienced a steeper fall of 12.2%, driven by continued weakness in the residential market.
© Belysse
Profitability also came under pressure. Adjusted EBITDA fell 19% to €34.4 million, with the EBITDA margin declining from 15.1% in 2024 to 13.5% in 2025. Despite the decline, the U.S. division maintained stronger margins than Europe, generating €29.9 million in EBITDA, while European operations contributed €4.5 million.
Belysse ended the year with net debt of €128.6 million and a leverage ratio of 4.2 times, higher than the previous year. However, the company maintained a solid liquidity position with €83.8 million available, including unused credit facilities.
Management pointed to improving order intake in the U.S. toward the end of 2025 but warned that the European residential market remains weak, affecting demand across sectors linked to housing such as flooring, furniture and home improvement.
Despite market challenges, Belysse continued investing in efficiency and sustainability initiatives, including recycled material usage and emissions reductions. The company expects gradual improvement as operational initiatives, including a new ERP system, begin to support efficiency and growth.
Source: www.za.investing.com
