Grolleau Reports 42.5% Revenue Growth in Q4 2025
On Thursday, Grolleau Group announced its annual results for 2025, marked by a significant acceleration in the last quarter. The French equipment supplier reported an annual revenue of 53.3 million euros, in line with its targets, and confirmed an increase in EBITDA for the full year.
Strong Q4 Performance Drives Annual Results
Grolleau recorded a revenue of 16.7 million euros in the fourth quarter of 2025, up 42.5% on a proforma basis compared to the same period in 2024. This acceleration allowed the group to fully catch up on the delay accumulated in the first half of the year. The Telecoms and Data sector led this dynamic with revenues of 7.6 million euros, up 74.1% on a proforma basis. The increase was due to deliveries of fiber optic shelters to GoFiber and Nexloop, a subsidiary of Cellnex, as well as initial contributions from orders for NGE in France and sustained activity in China alongside Nokia. The Smart City sector also returned to growth in the fourth quarter, with revenues of 4.4 million euros, a 29.8% increase on a proforma basis, thanks to the start of deliveries for Plexus and IES Synergy, having completed the delivery of 109 ultra-fast charging stations ordered. The Energy and Industry sector posted revenues of 4.8 million euros, up 18.9% on a proforma basis, reflecting the dynamics of the Energy contract and strong activity in the railway sector in Italy.
Annual Performance Slightly Down from Previous Year
For the full year 2025, Grolleau achieved a proforma revenue of 53.3 million euros, a slight decrease of 0.6% compared to 53.6 million euros in 2024 on a proforma basis. The Telecoms and Data sector remains the growth driver with 21.8 million euros, up 28.6% on a proforma basis. In contrast, the Smart City sector reported revenues of 14.7 million euros, down 18.8% on a proforma basis, while the Energy and Industry sector recorded revenues of 16.8 million euros, down 9.4% on a proforma basis. The group confirms its target of increased EBITDA for the fiscal year 2025. As of December 31, 2025, the total order book for 2026 stood at 18.3 million euros, compared to 17.0 million euros at the same date the previous year.
Cautious Outlook for Early 2026
Grolleau adopts a cautious stance at the start of 2026 regarding the pace of its activities. The group anticipates sustained dynamics for the Telecoms and Data as well as Energy and Industry sectors, particularly thanks to the Chantiers de l'Atlantique projects. However, the Smart City sector faces increased uncertainty due to the electoral period, which historically leads to a slowdown in urban activity orders after a year-end acceleration. Additionally, the previously announced termination of two charging station contracts with IES Synergy and TotalEnergies, as these clients have opted to internalize their production, adds to the uncertainty. Grolleau will now communicate on a semi-annual basis, with four regulatory releases annually covering semi-annual and annual revenue and results. Detailed annual results for 2025 will be presented on Thursday, April 16, 2026.
