ITC and Modulyss owner Belysse saw a 19% drop in profits and a near double-digit drop in sales last year.
The group’s turnover fell by 9.3% to €254.2m in 2025, of which 7.1% was lower sales and 2.2% currency effects.
Adjusted EBITDA dropped by 19% to €34.4m, with adjusted EBITDA margin down from 15.1% to 13.5%.
Weak demand in Europe was the main contributor, although its US operation also saw lower sales and profitability.
Sales in Europe dropped by 12.2% compared with a 7% decline in the US. US adjusted EBITDA fell by 6.7% to €29.9m (of which 4.3% was currency effects) and by 56.8% to €4.5m in Europe.
‘Continued soft market conditions were observed in 2025, in particular in our European residential business line, while trading within the commercial business lines in both US and Europe was more resilient. The reported financials of Bentley Mills were also affected by unfavourable US$ translation effects. We keep progressing well in our sustainability program, achieving further reductions in CO2 emissions per sqm produced of 0.9 kg, a 23% decrease versus the 2018 baseline, increasing the share of certified recycled content from 33.4% in 2024 to 36.4% in 2025 and successfully re-certifying collections to the latest Cradle-to-Cradle standards. We are proud to be the first flooring company to achieve Cradle to Cradle Certified Full Scope Gold for our certified carpet tile collections according to version 4.0,’ says James Neuling, Belysse ceo.
