Robertet Group : Strong organic growth and improved profitability in 2025
Strong organic growth and improved profitability in 2025
- Strong organic revenue growth of 7.6% (like for like)
- Improved EBITDA margin, up 120 basis points at 20.6% of revenue
- Proposed dividend of €12 for approval at the next Annual General Meeting
- A clear commitment to CSR with the adoption of a pathway validated by SBTi
| Consolidated financial statements (in thousands of euros) | 2025 | % of revenue | 2024 | % of revenue | Change (2025 vs 2024) |
| Revenue | 843,932 | – | 807,609 | – | +4.5% |
| EBITDA | 174,117 | 20.6% | 157,066 | 19.4% | +10.9% |
| Recurring operating income | 143,944 | 17.1% | 125,256 | 15.5% | +14.9% |
| Attributable net income | 103,427 | 12.3% | 90,068 | 11.2% | +14.8% |
| Earnings per share (in euros) | 49.34 | – | 43.01 | – | +14.7% |
Grasse, April 9, 2026 – The Board of Directors of Robertet, a world leader in natural raw materials for fragrances and flavors, met on April 8, 2026 under the chairmanship of Philippe Maubert, and adopted the Group’s results for 2025.
In 2025, the Robertet Group delivered a strong performance in an uncertain and volatile environment, combining sustained organic growth with improved profitability.
Strong organic revenue growth
Revenue was up 4.5% year on year as reported, to €843.9 million, representing an increase of 8% at constant exchange rates and of 7.6% on a like-for-like basis (at constant exchange rates and scope of consolidation).
All Divisions contributed to this 7.6% like-for-like revenue growth:
- the Raw Materials Division (25% of revenue) continued its strong momentum with growth of 12.4%;
- Flavors (35% of revenue) accelerated markedly with growth reaching 10.4%;
- Fragrances (37% of revenue) recorded growth of 2.1% over the year;
- Health & Beauty (3% of revenue) posted growth of 10.8% over the year.
By region, performance was driven in particular by solid contributions from Europe, South America and Asia.
Improved profitability
EBITDA rose significantly, by 10.9%, to reach €174.1 million, against the backdrop of a temporary, marked decrease in purchasing costs and dynamic growth in high value-added product categories.
EBITDA represented 20.6% of revenue in 2025, up 120 basis points from 2024, driven by favorable one-off effects.
Attributable net income amounted to €103.4 million, up 14.8%, and represented 12.3% of revenue. This reflected the rise in operating income and the relative decrease in debt servicing costs, with borrowings now standing at 0.5x EBITDA.
The Robertet Group’s remarkable financial performance in 2025 confirms the strength of its business model and its unique positioning.
ESG performance
As a global leader in natural ingredients, Robertet has made CSR a key strategic priority, serving both its customers and its future performance. The Robertet Group has reaffirmed its commitment to sustainability, illustrated by the Platinum Medal awarded again by EcoVadis in 2025 and a record 67 certified supply chains. It has also embarked on an ambitious carbon emissions reduction pathway, with its 2033 targets validated by SBTi, in line with the Group’s objective of achieving carbon neutrality across its entire value chain by 2050.
Dividend
The Annual General Meeting will be held in Grasse on June 3, 2026 at 10:00 a.m. The shareholders will be invited to approve a dividend payment of €12 per share, up 20% on the previous year owing to Robertet’s strong results in 2025.
First quarter revenue and outlook
In the first quarter of 2026, revenue rose by 4.9% like for like but fell by 0.7% on a reported basis, still held back by unfavorable exchange rates.
Against this backdrop, the Group is approaching the start of the year with prudence and is targeting annual like-for-like growth of approximately 5% in 2026, assuming no persistent deterioration in the economic climate.
Robertet also reaffirms its goal of achieving revenue of between €1.1 and €1.2 billion by 2030, with an EBITDA margin of more than 20%.
Philippe Maubert, Chairman of Robertet SA’s Board of Directors, said:
“In a challenging environment, the Company delivered a remarkable performance in 2025. Now more than ever, our greatest assets are our independence, our unique business model, and our long-term vision, which are enabling us to develop our expertise, particularly in natural products.”
Jérôme Bruhat, Chief Executive Officer of Robertet SA and of the Robertet Group, commented:
“In 2025, the Robertet Group remained on track to pursue sustained organic growth and improve profitability. Growth was driven by all Divisions, by sustained demand for natural products, and by our strong performance in Europe, Asia, and Latin America. I would like to thank our teams, who bring their expertise, passion, and agility to customers of all sizes around the world.”
Additional information
EBITDA corresponds to recurring operating income before additions to and reversals of depreciation, amortization and provisions, and excluding other operating expenses that are considered non-recurring.
Reconciliation between EBITDA and recurring operating income:
| (in thousands of euros) | 2025 | 2024 |
| Recurring operating income | 143,944 | 125,256 |
| Additions to and reversals of depreciation, amortization and provisions | 30,119 | 31,692 |
| Other operating expenses | 54 | 117 |
| EBITDA | 174,117 | 157,066 |
EBITDA was up 10.9%, outpacing growth in revenue. The EBITDA margin stood at 20.6% of revenue, compared with 19.4% in 2024, thanks to a marked improvement in gross margin, driven by optimized raw material procurement, a favorable product mix and favorable one-off effects, partially offset by a significant increase in indirect costs and payroll expenses.
The Group’s main balance-sheet indicators are as follows:
| (in thousands of euros) | 2025 | 2024 |
| Attributable equity | 602,502 | 551,805 |
| Net cash position* | (72,715) | (97,689) |
| Current assets – Current liabilities | 408,137 | 419,630 |
*Net cash position = cash and cash equivalents plus other current financial assets minus financial liabilities (including IFRS 16 financial liabilities)
The Group’s net cash position improved by approximately €25 million, despite a major increase in capital expenditure and IT investments. This was mainly driven by the increase in EBITDA, continued working capital discipline and a limited external acquisition program in 2025.
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An earnings call will be held on Monday, April 13, 2026 at 10:30 a.m. (CET). You can follow the conference via an audio webcast via the following link:
https://edge.media-server.com/mmc/p/fvhwxouz.
Financial calendar
- April 15, 2026: publication of the 2025 Annual Financial Report and Sustainability Statement on the Robertet website
- June 3, 2026: Annual General Meeting
- July 23, 2026: First-half 2026 Revenue (unaudited)
- September 17, 2026: First-half 2026 Results
- September 21, 2026: 2026 Half Year Financial Report
About the Robertet Group
Robertet SA was founded in Grasse in 1850 and is the world leader in natural products. Based in France and mostly family-owned since its creation, the Robertet Group is still controlled by the Maubert family and is the only fragrance, flavor and natural ingredient company that is fully integrated throughout the entire creative process, from source to final fragrance or flavor. Today, the Robertet Group is represented in more than 50 countries, has around 2,700 employees worldwide and offers its customers a range of over 1,600 natural materials and bespoke products created in one of its 17 global creation centers. In 2025, the Robertet Group recorded total revenue in excess of €843 million.
Investor contact
Isabelle Pardies: ir@robertet.com
Press contacts
Clélia Revinci: clelia.revinci@robertet.com
Teneo: robertet@teneo.com / +33 6 17 96 61 41
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