Stability is a relative term. The Zumtobel Group is presenting the lighting market with a reassuring headline for 2025/26, but the figures shine far less brightly: revenue fell by 5.2% to €1.040 billion, while adjusted EBIT dropped by 9.7% to €42.4 million.
There is a genuine operational counterpoint. The adjusted gross margin rose from 36.5% to 37.3% as material, personnel and administrative costs declined and the first effects of the efficiency programme emerged.
Little of that stability survived at the bottom of the income statement. Net profit collapsed from €15.5 million to €1 million, prompting the management and supervisory boards to propose no dividend for 2025/26.
The gap between adjusted and reported earnings is substantial. Exceptional items of €19.3 million reduced group EBIT to €23.1 million and included costs for the efficiency programme, the closure of the Highland production site in New York State, the end of production in France and impairments in the components business.
The brighter part of the accounts is the Lighting Segment. Although its revenue declined by 3.7% to €832.3 million, adjusted EBIT increased by 6.6% to €54.7 million and the segment margin improved from 5.9% to 6.6%.
There is far less evidence of stability in the Components Segment. Revenue fell by 11% to €266.4 million, adjusted EBIT dropped by more than two-thirds to €4.6 million and the margin contracted from 4.5% to 1.7%.
The regional picture is also predominantly negative. The Americas and MEA grew by 7.2%, but sales declined across DACH, Southern and Eastern Europe, Northern and Western Europe and Asia-Pacific.
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Stability is a relative term. The Zumtobel Group is presenting the lighting market with a reassuring headline for 2025/26, but the figures shine far less brightly: revenue fell by 5.2% to €1.040 billion, while adjusted EBIT dropped by 9.7% to €42.4 million.
There is a genuine operational counterpoint. The adjusted gross margin rose from 36.5% to 37.3% as material, personnel and administrative costs declined and the first effects of the efficiency programme emerged.
Little of that stability survived at the bottom of the income statement. Net profit collapsed from €15.5 million to €1 million, prompting the management and supervisory boards to propose no dividend for 2025/26.
The gap between adjusted and reported earnings is substantial. Exceptional items of €19.3 million reduced group EBIT to €23.1 million and included costs for the efficiency programme, the closure of the Highland production site in New York State, the end of production in France and impairments in the components business.
The brighter part of the accounts is the Lighting Segment. Although its revenue declined by 3.7% to €832.3 million, adjusted EBIT increased by 6.6% to €54.7 million and the segment margin improved from 5.9% to 6.6%.
There is far less evidence of stability in the Components Segment. Revenue fell by 11% to €266.4 million, adjusted EBIT dropped by more than two-thirds to €4.6 million and the margin contracted from 4.5% to 1.7%.
The regional picture is also predominantly negative. The Americas and MEA grew by 7.2%, but sales declined across DACH, Southern and Eastern Europe, Northern and Western Europe and Asia-Pacific.