FY 2025 Financial Results Presentation
IRCE Group - Contents
Company Profile
Highlights
The Businesses
Production Plants
Financial Results
New Projects
Copper and Aluminium Price Trend
Profit and Loss Statement
Balance Sheet
Business Performance
Market Performance
Company Profile- Highlights IRCE is a leading European Group operating in the industries of magnet wires and cables IRCE Today Uom FY 2025 FY 2024 Number of employees FTE Nr 620 681 TURNOVER Eur M 377.6 397.7 EBITDA Eur M 17.9 20.9 EBITDA Adj* Eur M 18.8 21.4 EBIT Eur M 10.8 14.5 EBIT Adj* Eur M 11.7 15.0 RESULT of the period Eur M 6.2 6.9 (*) Including gains/losses on copper and energy derivatives transactions if realized | |
History 1947 IRCE began its activity in Imola (Italy) with the production of magnet wires 1961 The company started the production of PVC insulated low voltage cables 1996 The Group was listed on the Italian Stock Exchange 1998 Acquisition of Smit Draad Nijmegen BV (The Netherlands) 2001 Acquisition of FD Sims Ltd (UK) 2001 The Group was listed on the Star Market Segment 2007 Construction of Brazil Plant 2007 Acquisition of Stable Magnet Wire P. Ltd (India) 2010 Acquisition of ISODRA GmbH (Germany) 2015 New sales office in Poland 2018 Established the Company in China 2021 Established the Company in Czech Republic 2022 June 30, sold the branch of the company for the production of power cables located in Miradolo Terme Italy 2023 Start the construction of plant in Czech Republic 2024 Start the construction of plant in China 2025 May 2025 the Dutch Company Smith Draad has ceased its activity |
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Magnet wires 80% of sales•
Energy cables 20% of sales Sales breakdown by geographical area Sales breakdown by business areasCompany Profile- The Businesses Magnet Wires Magnet wires, also known as winding wires or enamelled wires, have multiple applications such as electric motors, generators, transformers, compressors, inductors, relays, solenoid valves, etc. The wire is insulated through the application of many layers of enamels by means of highly sophisticated processes and machines, which demand high levels of investments and large scale of productions. | ||
Energy Cables Cables produced by the Group encompass the complete range of Low Voltage and Medium Voltage for building and industrial sector. Cables can be insulated with PVC, rubber, polyethylene, etc.. They are used for the construction of electricity plants in residential and industrial buildings and for the wiring and cabling of electrical appliances. The principal final industry sectors are the construction industry, housing and industrial applications, and consumer durables industries (domestic appliances and other electrical appliances). | ||
Company Profile- The Businesses
>MagnetWires
> Market share
In the Magnet Wire business IRCE manufactures and sales the complete range of products, and is mainly engaged in the segments of the fine and medium wires. It mainly operates in Europe, where it is one of the top three producers by size.
Sales breakdown by industry Sales breakdown by productCompany Profile- Production Plants
- Imola Plant
- Guglionesi Plant 3. Umbertide Plant 4. United Kingdom Plant
- Brazil Plant
- Stable Magnet Wire P.Ltd.
- Germany Plant
- Czech Republic Plant
IRCE SpA - Headquarters Copper and Aluminium Round Magnet Wire Covered Area: 46,000 Sqm ISO 9001 Imola - Italy and LV Energy Cables Employees: 226 IATF 16949
ISO 14001
IRCE SpA
LV/MV Energy Cables
Covered Area: 24,000 Sqm ISO 9001
Guglionesi - Italy Employees: 84
IRCE SpA
Copper and Aluminium Round Magnet Wire
Covered Area: 19,400 Sqm ISO 9001
Umbertide - Italy Employees: 41
FD Sims Ltd Covered Area: 7,000 Sqm ISO 9001
Copper and Aluminium Round and Rectangular Magnet Wire
Employees: 27 IATF 16949
Blackburn - UK ISO 14001
ISO 45001
IRCE Ltda Copper and Aluminium Round and Rectangular Magnet Wire Covered Area: 21,500 Sqm ISO 9001 Joinville - Brazil Continuously Transposed Cable (CTC) Employees: 133 IATF 16949
Stable Magnet Wire P. Ltd. Cochin - India
ISODRA GmbH
Kierspe -Germany
Copper Round Magnet Wire Employees: 28 ISO 9001
Copper Round Magnet Wire Employees: 14 ISO 9001
IRCE S.R.O. Cechia Covered Area: 20,000 Sqm ISO 9001
Ostrava -Czech Republic
Copper and Aluminium Round and Rectangular Magnet Wire
Employees: 28 IATF 16949 Compliance Letter
IRCE Group - Copper and Aluminium price trend
Financial Results- Profit and Loss Statement
Euro million | FY 2025 | % Turn. | FY 2024 | % Turn. | change % | FY 2023 | FY 2022 | |||
Hollow turnover wires | 63.0 | 73.1% | 68.0 | 70.7% | -7.4% | 71.0 | 72.2 | |||
Hollow turnover cables | 23.1 | 26.9% | 28.2 | 29.3% | -17.9% | 28.2 | 24.5 | |||
Total hollow turnover | 86.1 | 100 . 0 % | 96.2 | 10 0 . 0 % | -10.5% | 99.2 | 96.7 | |||
TURNOVER (copper included) | 377.6 | 100 . 0 % | 397.7 | 10 0 . 0 % | -5.0% | 402.8 | 454.7 | |||
Other income | 3.5 | 0.9% | 1.8 | 0.5% | 92.3% | 1.8 | 4.9 | |||
TOTAL REVENUES | 381.1 | 100 . 9 % | 399.5 | 10 0 . 5 % | -4.6% | 404.6 | 459.6 | |||
Cost of material including change in stock | (293.5) | - 77.7% | (304.1) | - 76.5% | - 3.5% | (314.6) | (361.9) | |||
Personnel costs | (30.5) | - 8.1% | (35.8) | - 9.0% | - 14.7% | (30.5) | (30.0) | |||
Other costs and services | (39.2) | - 10.4% | (38.7) | - 9.7% | 1.3% | (38.1) | (48.3) | |||
EBITDA | 17.9 | 4 . 7 % | 20.9 | 5 . 3 % | -14.4% | 21.4 | 19.4 | |||
Depreciations and provisions | (7.1) | - 1.9% | (6.4) | - 1.6% | 11.0% | (7.0) | (7.8) | |||
EBIT | 10.8 | 2 . 9 % | 14.5 | 3 . 6 % | -25.5% | 14.4 | 11.6 | |||
Copper and energy derivatives | 0.9 | 0.2% | 0.5 | 0.1% | - 84.0% | 0.1 | 0.5 | |||
Net financial charges | (1.4) | - 0.4% | (2.1) | - 0.5% | - 33.3% | (2.0) | (1.8) | |||
RESULT BEFORE TAXES (EBT) | 10.3 | 2 . 7 % | 12.9 | 3 . 2 % | -20.0% | 12.5 | 10.3 | |||
Taxes | (4.1) | - 1.1% | (6.0) | - 1.5% | - 30.9% | (4.3) | (1.1) | |||
RESULT non-controlling interests | 6.2 | 1. 6 % | 6.9 | 1. 7 % | -10.6% | 8.2 | 9.2 | |||
Minorities | 0.0 | 0.0% | 0.0 | 0.0% | 0% | 0.0 | 0.0 | |||
RESULT OF THE PERIOD | 6.2 | 1. 6 % | 6.9 | 1. 7 % | -10.6% | 8.2 | 9.2 | |||
EBITDA | 17.9 | 0.0 | 20.9 | 5 . 3 % | -14.4% | 21.4 | 19.4 | |||
Copper and energy derivatives | 0.9 | 0.2% | 0.5 | 0.1% | 0.1 | 0.5 | ||||
EBITDA Adjusted (*) | 18.8 | 5 . 0 % | 21.4 | 5 . 4 % | -12.1% | 21.5 | 19.9 | |||
Depreciation and provisions | (7.1) | - 1.9% | (6.4) | - 1.6% | 37.5% | (7.0) | (7.8) | |||
EBIT Adjusted (*) | 11.7 | 3 . 1% | 15.0 | 3 . 8 % | -21.9% | 14.5 | 12.1 |
(*) For a better comparison of the operating results, we have introduced the concepts of EBITDA and EBIT Adjusted, that are equal to the traditional definitions plus income or loss on copper and energy derivatives if realized.
FY 2022 includes Miradolo italian plant, sold on June 30, 2022
ROCE (EBIT Adj. / Net Capital Employed)% 5.6% 7.9% 7.6% 6.0%
Financial Results- Balance sheetIRCE Group - Business Performance
IRCE Group - Market Performance
IRCE Group - New Projects
Plant in Ostrava (Czech Republic) Plant in Hai'an - Jiangsu (China)