Financial Performance
In the first nine months of 2025, Ercros reported a contribution margin of EUR 159 million and an adjusted EBITDA of EUR 3.8 million, alongside losses amounting to EUR 41 million. The company maintains a solid financial position with EUR 101 million in liquidity.
Market Challenges
Ercros, like other European chemical companies, faces challenges from weak demand, high energy costs, and competition from non-EU countries. The ongoing tariff war initiated by the United States further complicates economic recovery in Europe. Oversupply continues to pressure volumes, prices, and margins.
Strategic Developments
The company's Cost Reduction and Revenue Increase Plan (CRP) is progressing as scheduled. However, the benefits of the European Commission's action plan for the chemical industry have yet to be realized. Ercros is also advancing its 3D Plan, focusing on digitalization, decarbonization, and product diversification.
Regulatory and Industry Outlook
The National Commission on Markets and Competition (CNMC) has approved Bondalti's takeover bid, subject to certain commitments, with final approval pending further review. Industry analysts anticipate a recovery in demand for the European chemical sector in the second half of 2026, contingent on resolving the tariff crisis and implementing the European Commission's support plan.
