- Q1 2026: contribution €52.0m; adjusted EBITDA −€1.0m; net loss €13.6m; liquidity €45m.
- Demand remains weak, energy costs are high and competition from non‑EU producers is intense; EC Chemical Industry Action Plan benefits have not materialized.
- Bondalti Iberica’s takeover bid reached 77.23% acceptance (19 Mar 2026), the board was reshuffled on 7 Apr and new management plans to delist, restore profitability and integrate operations to capture synergies.
Financial results
Ercros reported Q1 2026 contribution of €52.0m, adjusted EBITDA of −€1.0m and a net loss of €13.6m, with €45m of liquidity on hand.
Market conditions
Persistent weak demand, elevated energy costs and strong competition from non‑EU producers are compressing margins; expected benefits from the European Commission’s Chemical Industry Action Plan have not materialized.
Ownership and board changes
On 19 March 2026 Bondalti Iberica S.L.U.’s takeover bid reached 77.23% acceptance; at a board meeting on 7 April three directors resigned and were replaced by co‑opted appointees including Antón Valero Solanellas (chair), João Guimarães de Mello (CEO) and André Cabral Côrte‑Real de Albuquerque (executive director).
Management priorities
The new management’s short‑term priorities are to execute a delisting takeover bid for strategic flexibility, strengthen the financial position and return the company to profitability, and integrate teams and processes to capture operational synergies.
Integration status
Integration work between Ercros and Bondalti is reported to be progressing according to plan with commitment from both teams.
