Stonegate Capital Partners Updates Coverage on Aquafil Group (ECNL) Q4 2024
March 19, 2025 4:39 PM EDT | Source: Reportable, Inc.
Dallas, Texas--(Newsfile Corp. - March 19, 2025) - Aquafil Group (MI: ECNL): Stonegate Capital Partners updates coverage on Aquafil Group (MI: ECNL). In 4Q24, ECNL observed continued improvement within the macro environment in both EMEA and Asia markets, with volumes growing year over year and aligning with company expectations despite the posted revenue declines in these geographies. The Company experienced volume headwinds in North America, but signs of recovery were noted in both fiber product lines, though management noted that orders are increasing in early FY25. On a consolidated basis, ECNL reported improved EBITDA margins compared to 4Q23 despite lower revenue. This improvement is partly due to the increasing percentage of ECONYL® sales, which accounted for 57.2% of revenues generated from fibers in the fourth quarter. The Company also remains focused on debt repayment with a decreasing trend in net financial position, as evidenced by the NFP/EBITDA ratio improving to 3.42x at the end of 4Q24 from 5.11x at the end of FY23. Lastly, ECNL's capital increase operation to further support the Business Plan was completed in the quarter.
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Key Takeaways:
- Volumes sold in 4Q24 up 6.9% compared to the same period of the previous year.
- EBITDA: €62.4 million, up 31.3% compared to €47.5 million for 2023.
- ECONYL® branded products accounted for 54.8% of revenues generated from fibers in 2024 and 57.2% in the fourth quarter.
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About Stonegate
Stonegate Capital Partners is a leading capital markets advisory firm providing investor relations, equity research, and institutional investor outreach services for public companies. Our affiliate, Stonegate Capital Markets (member FINRA) provides a full spectrum of investment banking, equity research and capital raising for public and private companies.
Source: Stonegate, Inc.
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