INDUS Holding AG: Solid Performance Amid Challenges

INDUS Holding AG has maintained its "Empowering Mittelstand" strategy, despite facing various headwinds. The company met its FY25 guidance with revenues of €1.74bn and an adjusted EBITA of €147.8m, although the EBITA margin of 8.5% faced pressure from economic and tariff-related challenges. The Material Solutions segment outperformed expectations, and Infrastructure saw a 6.7% revenue growth, supported by a one-off gain.

In FY26, INDUS aims for revenues between €1.8bn and €1.95bn, with an adjusted EBITA target ranging from €150m to €170m. Despite experiencing some material-related challenges, INDUS remains focused on efficiency measures to boost profitability. The company continues to show resilience and retains its role as a serial acquirer in the German Mittelstand.