$FRE (-1,33 %) presented its quarterly figures for the fourth quarter and the full year 2025 today.
- Turnover (expected): 5.86 billion euros
- Turnover (reported): EUR 5.9 billion
- EPS (expected): EUR 0.91
- EPS (reported): 0.78 euros
The operating cash flow also increased significantly.
Forecast for 2026 $FRE (-1,33 %) organic sales growth of 4 - 7% and core EPS growth of 5 - 10%. These are solid but comparatively moderate targets. Analysts were somewhat disappointed after the publication. The somewhat subdued outlook is primarily due to the continuing macroeconomic and regulatory uncertainties.
$FRE (-1,33 %) has, in my opinion, closed the year 2025 strongly. Significant sales and EPS growth was achieved. Cash flow also improved and a higher dividend was announced. For me, these developments indicate a successful implementation of the turnaround. At the same time, the cautious outlook for 2026 shows that the management is deliberately setting realistic and not excessive targets.
How do you classify the outlook for 2026? Is this a reasonable safeguard on the part of the management?
~ No investment advice ~