Aurea: Net Loss of €5.9M in 2025, but Debt Reduced by €12.5M
Aurea has published its 2025 annual results, marked by a net loss of €5.9 million and a 4.8% decrease in revenue to €200.6 million. However, the waste regeneration specialist group has strengthened its financial position with a net debt reduction of €12.5 million and a positive cash flow from operations of €11.3 million, primarily due to the sale of M Lego and rigorous cash flow management.
Aluminum Market and Tariffs Impact Operational Profitability
The consolidated revenue stood at €200.6 million in 2025, down from €210.7 million the previous year (restated according to IFRS 5 standard). The Gross Operating Surplus (EBE) declined to €9.2 million from €15.6 million in 2024, mainly reflecting the impact of U.S. tariffs on aluminum and ongoing geopolitical tensions. The current operating result was at −€3.3 million, including a provision of €1.2 million related to Flaurea Chemical, compared to a profit of €3.7 million in 2024. The operating result amounted to −€1.5 million, compared to €3.6 million in 2024. The cost of net financial debt decreased to €0.9 million, benefiting from the divestiture of M Lego, which had high debt levels.
Cash Flows Remain Positive Despite Operational Loss
Paradoxically, the net cash flows generated from operations were positive at €12.1 million in 2025, down from €15.8 million in 2024, despite the net loss of €5.9 million. This liquidity resilience illustrates the effectiveness of the management measures implemented by Aurea: temporary reduction in production volumes, refocusing on service offerings, and development of innovative aluminum waste treatment solutions. As of December 31, 2025, equity stood at €66.9 million and net financial debt reached €9.9 million, down by €12.5 million compared to the end of 2024. Available cash totaled €36.3 million (including factoring), reinforcing the financial strength of the group.
Reduced Visibility for 2026 and Cautious Strategy
Aurea adopts a measured approach for 2026, in a context of limited visibility on its order books, persistent economic uncertainty, and prolonged geopolitical tensions. The group remains focused on continuous improvement of its operational performance and strategic refocusing of its activities. Regarding shareholder remuneration, the Board of Directors has decided to propose to the General Assembly not to pay an additional dividend for 2025, after paying an advance of €0.15 per share in November 2025. Aurea remains open to external growth operations or opportunistic disposals, following a logic of sustainable value creation.
