Debt ManagementThe company successfully reduced its net debt substantially in Q4-24, improving its leverage ratio significantly.
Financial PerformanceAdjusted Q1 EBITDA of €166m beat market expectations by +2%, with a margin higher than consensus.
Guidance2025 unchanged guidance is reassuring, with top-line growth of 3-5% and mid-point adj. EBITDA margin target range above 2024 performance.