Halde Group
2025
Annual Report
Building for the long term
Contents
01Letter from the Chair04
02Performance at a glance12
03Financial review28
04Outlook 202646
All figures illustrative01
Halde Group · Annual Report 202502 Performance
02 — At a glance
Our strongest year on record.
Revenue
bn
12.4%vs €4.29bn in 2024
Operating margin
%
1.9 ptsvs 16.7% in 2024
Free cash flow
m
21.0%vs €506m in 2024
€1.24dividend per share +8%
0.9×net debt / EBITDA
14,200colleagues in 31 countries
Illustrative figures for demonstration · Group, continuing operations12
Halde Group · Annual Report 202503 Financial review
Revenue grew for a fifth year
Group revenue, € billions
3.122021
3.412022
3.862023
4.292024
4.822025
+12.4% YoY
Margins widened again
Operating margin, %
Illustrative figures for demonstration · Source: Halde Group, audited accounts13
2025
Halde Group
Read the full
Annual Report.
halde.group/report2025
Published 12 March 2026Investor Relations · ir@halde.group