AI Terminal
A.S. Company S.A.
Earnings Release • Nov 27, 2025
2686_rns_2025-11-27_02b55b79-7473-4e1f-966f-21778fe93a87.pdf
Earnings Release
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Brief Financial Summary Figures
As of 30/09/2025
AS Company S.A. – Financial Results for the Nine Months of 2025
Thessaloniki, Greece – November 27, 2025 – AS Company S.A. (ASCO) announces its summary financial results for the nine-month period of 2025.
During the period (01.01.2025 – 30.09.2025), the AS Group recorded a significant improvement in its financial figures compared to the corresponding period last year, achieving growth in turnover and a notable increase in operating profitability. The nine-month results confirm Management's forecasts for improved performance in 2025 compared to fiscal year 2024.
To ensure comparability with last year's figures, both EBITDA and Earnings Before Taxes are presented in the table below excluding the extraordinary gain from the sale of investment properties.
Key Group Financial Figures (in €):
| Amounts in € | GROUP | ||
|---|---|---|---|
| 1.1 – 30.9.2025 | 1.1 – 30.9.2024 | Δ% | |
| Sales Turnover | 24.027.483 | 19.059.861 | +26,1% |
| Gross Margin | 11.897.733 | 9.738.328 | +22,2% |
| GM | 49,52% | 51,09% | -1,6π.μ. |
| EBITDA (excluding gain from property sale) | 4.874.911 | 3.703.939 | +31,6% |
| Adjusted EBITDA% | 20,29% | 19,43% | |
| EBT (excluding gain from property sale) | 4.274.514 | 4.009.274 | +6,6% |
| Adjusted ΕΒΤ% | 17,79% | 21,04% | |
| EBT | 5.156.498 | 4.009.274 | +22,2% |
Commentary on Financial Performance
The increase in sales is partly attributable to the new Infant Development segment, launched in Q4 2024, and to the outstanding performance of the Romanian subsidiary, which recorded the highest percentage sales growth within the Group, strengthening its international footprint.
On September 8, 2025, AS Company S.A. signed a definitive agreement with Elounda Green Properties S.A. for the sale of nine (9) properties located in "Pezoulous," Elounda, Agios Nikolaos, Crete, for a total consideration of €3,000,000. One-third of this amount has already been paid, with the balance expected within 2025. The transaction delivered a 40% return on investment for the Company and contributed to the overall increase in Earnings Before Taxes, which reached €5,156,498, up +28.6% compared to the same period last year.
The decline in gross margin by –1.6pp reflects the diversification of the Group's activities following entry into the Infant Development segment, which has different profitability characteristics compared to traditional toys.
EBITDA on a comparable basis showed a significant improvement, reaching €4.87 million, up +31.6% year-on-year, confirming the Group's strategic decisions to strengthen operating profitability.
Financial income for the period amounted to €21.2k, compared to €822.3k in the prior year.
Strong Financial Position
As of September 30, 2025, the Group maintained zero debt, while cash and cash equivalents remained at high levels, confirming strong liquidity.
| Amounts in € | GROUP | ||
|---|---|---|---|
| 30.9.2025 | 31.12.24 | Δ | |
| Cash & Cash Equivalents | 16.174.503 | 15.851.825 | 322.678 |
| Investment Properties | 2.125.075 | 4.241.741 | -2.116.666 |
| Total | 18.299.578 | 20.093.566 | -1.793.988 |
Outlook and Dividend
The positive evolution of results to date confirms Management's commitment to achieving sales growth of +10% in 2025 versus 2024, in line with strategic targets. The Group is expected to further strengthen its market share, with emphasis on promoting its own products.
Taking into account that financial results are progressing within Management's forecasts, as well as the extraordinary gain from the property sale in Crete, the Board of Directors will propose to the Extraordinary General Meeting convened for December 12, 2025, the distribution of an extraordinary cash dividend within the current fiscal year, totaling €787,561.20 from taxed and undistributed profits of prior years. This corresponds to a gross amount of €0.06 per share and, after 5% withholding tax, a net amount of €0.057 per share.
The contribution of the Chicco brand to revenue and profitability growth in 2025 was positive, with payback of the overall investment expected in less than two years. This new investment further strengthens the Group's leadership in the infant and parental care sector, opening significant opportunities for expansion through physical stores, e-commerce, and pharmacies.
The Group continues to invest in human capital, in further enhancement of systems and processes, and in ESG initiatives.