Stonegate Capital Partners Updates Coverage on Aquafil Group (ECNL.MI) Q4 2024

DALLAS, TX -- March 19th, 2025 -- Aquafil Group (ECNL.MI): Stonegate Capital Partners updates coverage on Aquafil Group (ECNL.MI). 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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Source: Stonegate, Inc.

Distributed by: Reportable, Inc.

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