FOURTH QUARTER & FY 2025 EARNINGS | March 3, 2026 2 DELIVERED RECORD PERFORMANCE WITH STRONG OPERATING MOMENTUM | 1 | Achieved record Q4 revenue of €369 million, up 20% YoY, grew Adjusted EBITDA1 48% YoY, expanded Adjusted EBITDA margin1 to 24%. For FY 2025 set records for revenue, AEBITDA and Free Cash Flow1. | | --- | --- | | 2 | Generated record Free Cash Flow of €167 million in 2025 up 42% YoY, representing a Free Cash Flow conversion1 rate of 56%. | | 3 | Closed on the acquisition of IMGA which expands ...