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olivLaw · European equity research

CEMBRE S.p.A. CMB.MI

Italy · Euronext Milan · ISIN IT0001128047 · Vertical: Listed companies from Italy

77.20EUR−0.90% · 1 dayClose 04 Nov 2026

CEMBRE is an Italian industrial group listed on Euronext Milan that designs and manufactures tools and equipment for electrical connection, including battery-powered tools. Its 2025 annual report shows high return on sales and a solid financial structure, which makes the company relevant to investors following the electrical connection industry.

At the close of 04 Nov 2026, CEMBRE S.p.A. (CMB.MI) stock was 77.20 EUR (−0.90% on the day), with market capitalisation 1.3 bn EUR, P/E 27.9 on diluted EPS of 2.77 EUR over the last 12 months, dividend yield 2.44%, beta 0.61, 52-week range 59.40–98.00 EUR.

Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.

Market cap
1.3 bn EUR
shares as of 31 Dec 2025
P/E (TTM)
27.9
Diluted EPS TTM 2.77 · TTM to 31 Dec 2025
E/P (TTM)
3.59%
TTM to 31 Dec 2025
Dividend yield
2.44%
DPS 12m 1.88
Beta (2y)
0.61
Volatility (1y) 33%
52-week range
59.4098.00

Price history

Loading chart…

Technical reading

RSI (14)
37.6
weak (30–45)
Bollinger (20, 2)
74.23 – 86.38
in the lower half of the band · %B 0.24 · band width 15.1%
SMA 50 / 200
82.68 / 79.92
mixed trend
MACD (12, 26, 9)
-1.70 / -1.50
MACD below signal

Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).

Performance

CompanyEURO STOXX 50vs EURO STOXX 50Vertical median
1 month−9.2%+0.4%−9.6 pp—
3 months−6.4%−3.3%−3.2 pp—
6 months−11.2%+4.0%−15.1 pp—
Year to date+13.2%+8.1%+5.1 pp—
1 year+25.5%+10.7%+14.8 pp−5.8%
3 years+136.1%+50.1%+86.0 pp+6.7%
5 years+180.7%+43.6%+137.1 pp—
Max drawdown (1y)
−22.1%
15 May 2026 → 22 Oct 2026
Max drawdown (5y)
−33.0%
28 Dec 2021 → 11 Oct 2022
Compound annual growth (5y)
+22.9%
EURO STOXX 50 +7.5%

Price returns, dividends excluded.

Quarterly results

ESEF annual reports carry no quarters: the results are annual (below).

E/P over time

E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.

Today's P/E sits at the 100 percentile of its own 3-quarter history (min 15.3, median 16.5, max 24.6; quarters with earnings only).

Fiscal years

Fiscal year202320242025
Revenue223.8 m231.6 m247.2 m
Revenue YoYunavailable+3.5%+6.7%
Net income40.8 m42.6 m46.6 m
Net income YoYunavailable+4.3%+9.5%
Diluted EPS2.432.532.77
Diluted EPS YoYunavailable+4.1%+9.5%
net %18.2%18.4%18.9%
Free cash flow31.7 m19.0 m33.1 m

Balance sheet & financial health

Fiscal year 2025 · 31 Dec 2025

Cash
20.4 m EUR
Financial debt
unavailable EUR
Net debt
unavailable EUR
Equity
233.1 m EUR
Total assets
300.5 m EUR
Debt / equity
unavailable
Current ratio
2.92x
ROE
20.6%
ROA
16.3%
FCF margin
13.4%

Financial statements (source on every figure)

Revenue and net income (EUR)

Margins

Income statement · EUR

Revenue
2023
223.8 m
2024
231.6 m
2025
247.2 m

esef· 07 Apr 2026verified

Operating income
2023
54.0 m
2024
52.8 m
2025
59.8 m

esef· 07 Apr 2026verified

Interest expense
2023
354.0 k
2024
630.0 k
2025
598.0 k

esef· 07 Apr 2026verified

Pre-tax income
2023
53.8 m
2024
52.7 m
2025
59.2 m

esef· 07 Apr 2026verified

Income tax
2023
13.0 m
2024
10.1 m
2025
12.5 m

esef· 07 Apr 2026verified

Net income
2023
40.8 m
2024
42.6 m
2025
46.6 m

esef· 07 Apr 2026verified

Diluted EPS
2023
2.43
2024
2.53
2025
2.77

esef· 07 Apr 2026verified

Dividend per share
2023
1.40
2024
1.80
2025
1.88

esef· 07 Apr 2026verified

Balance sheet · EUR

Cash
2023
20.9 m
2024
13.5 m
2025
20.4 m

esef· 07 Apr 2026verified

Inventories
2023
68.7 m
2024
73.8 m
2025
76.5 m

esef· 07 Apr 2026verified

Current assets
2023
139.0 m
2024
142.4 m
2025
155.9 m

esef· 07 Apr 2026verified

Property, plant & equipment, net
2023
90.3 m
2024
108.6 m
2025
120.3 m

esef· 07 Apr 2026verified

Goodwill
2023
4.6 m
2024
4.6 m
2025
4.6 m

esef· 07 Apr 2026verified

Intangibles (excl. goodwill)
2023
4.7 m
2024
4.9 m
2025
4.9 m

esef· 07 Apr 2026verified

Total assets
2023
249.2 m
2024
273.2 m
2025
300.5 m

esef· 07 Apr 2026verified

Current liabilities
2023
32.8 m
2024
41.2 m
2025
53.3 m

esef· 07 Apr 2026verified

Total liabilities
2023
43.5 m
2024
53.5 m
2025
67.4 m

esef· 07 Apr 2026verified

Equity
2023
205.7 m
2024
219.7 m
2025
233.1 m

esef· 07 Apr 2026verified

Shares outstanding at year end
2023
16.8 m
2024
16.8 m
2025
16.8 m

esef· 07 Apr 2026derived

Cash flow · EUR

Operating cash flow
2023
44.8 m
2024
47.2 m
2025
56.2 m

esef· 07 Apr 2026verified

Capex
2023
13.2 m
2024
28.2 m
2025
23.1 m

esef· 07 Apr 2026verified

Free cash flow
2023
31.7 m ≈
2024
19.0 m ≈
2025
33.1 m ≈

esef· 07 Apr 2026derived

Investing cash flow
2023
-14.4 m
2024
-29.5 m
2025
-21.9 m

esef· 07 Apr 2026verified

Financing cash flow
2023
-24.6 m
2024
-25.3 m
2025
-26.9 m

esef· 07 Apr 2026verified

Dividends paid
2023
23.5 m
2024
30.2 m
2025
31.6 m

esef· 07 Apr 2026verified

Computed indicators

Growth

Revenue growth (YoY)
6.7%
computed by olivLawFY 2025
Revenue CAGR 3Y
unavailable
input data missing
Revenue CAGR 5Y
unavailable
input data missing
EBIT growth (YoY)
13.2%
computed by olivLawFY 2025
Net income growth (YoY)
9.5%
computed by olivLawFY 2025
Net income CAGR 3Y
unavailable
input data missing
Net income CAGR 5Y
unavailable
input data missing
EPS growth (YoY)
9.5%
computed by olivLawFY 2025
EPS CAGR 3Y
unavailable
input data missing
EPS CAGR 5Y
unavailable
input data missing
FCF growth (YoY)
74.2%
computed by olivLawFY 2025

Profitability

Gross margin
unavailable
input data missing
EBITDA margin
unavailable
input data missing
EBIT margin
24.2%
computed by olivLawFY 2025
Net margin
18.9%
computed by olivLawFY 2025
FCF margin
13.4%
computed by olivLawFY 2025

Returns

ROE
20.6%
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
ROA
16.3%
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
ROIC
unavailable
input data missing
ROCE
24.2%
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
Payout ratio (EPS)
67.9%
computed by olivLawFY 2025
Payout ratio (FCF)
95.6%
computed by olivLawFY 2025

Balance sheet

Net debt
unavailable
input data missing
Net debt / EBITDA
unavailable
input data missing
Debt / equity
unavailable
input data missing
Interest coverage
100.0x
computed by olivLawFY 2025

Liquidity

Current ratio
2.9x
computed by olivLawbalance sheet at 31 Dec 2025
Quick ratio
1.5x
computed by olivLawbalance sheet at 31 Dec 2025
Cash ratio
0.4x
computed by olivLawbalance sheet at 31 Dec 2025

Cash

Operating cash flow
56.2 m EUR
computed by olivLawFY 2025
Capital expenditure
23.1 m EUR
computed by olivLawFY 2025
Free cash flow
33.1 m EUR
computed by olivLawFY 2025
FCF conversion
70.9%
computed by olivLawFY 2025
Cash conversion
unavailable
input data missing

Efficiency

Days sales outstanding
unavailable
input data missing
Days inventory outstanding
unavailable
input data missing
Days payables outstanding
unavailable
input data missing
Cash conversion cycle
unavailable
input data missing

Market and valuation

Market capitalisation
1.3 bn EUR
computed by olivLawbalance sheet at 31 Dec 2025
Enterprise value
unavailable
input data missing
Market cap / net income TTM
27.9x
computed by olivLawFY 2025
P/E (TTM)
27.9x
computed by olivLawFY 2025
Earnings yield
3.6%
computed by olivLawFY 2025
P/B
5.6x
computed by olivLawbalance sheet at 31 Dec 2025
P/S
5.3x
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
EV/EBITDA
unavailable
input data missing
EV/EBIT
unavailable
input data missing
EV/Sales
unavailable
input data missing
P/FCF
39.3x
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
FCF yield
2.5%
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
Dividend yield
2.4%
computed by olivLawFY 2025
Shareholder yield (distributions)
2.4%
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025

1 indicators that do not apply to the sector.

Valuation

olivLaw classification

Insufficient data
What is missing
  • score weight coverage: 52.1% of at least 60%

A scoring methodology on indicators and valuation, not investment advice.

Closing price

77.20 EUR

04 Nov 2026Source: olivLaw, closing series

Market cap: 1.3 bn EUR

Key indicators

Market capitalisation
1.3 bn EUR
computed by olivLawbalance sheet at 31 Dec 2025
P/E (TTM)
27.9x
computed by olivLawFY 2025
P/B
5.6x
computed by olivLawbalance sheet at 31 Dec 2025
EV/EBITDA
unavailable
input data missing
ROE
20.6%
computed by olivLawFY 2025 · balance sheet at 31 Dec 2025
Net margin
18.9%
computed by olivLawFY 2025
Revenue growth (YoY)
6.7%
computed by olivLawFY 2025
Dividend yield
2.4%
computed by olivLawFY 2025

Coverage and freshness

25/37 reporting lines present
Latest full fiscal year: 2025
Latest reported period: 31 Dec 2025
Latest balance sheet date: 31 Dec 2025
Share count (cover of the latest filing), as of: 31 Dec 2025
Source: esefpublished 07 Apr 2026
verified 73derived 4

Score by group

52% · Insufficient data

Estimated value range

Low
21.57
EUR per share
Mid
33.15
EUR per share
High
49.49
EUR per share
Price: 77.20 EUR
The price is above the range
Potential to the central value: -57.1% (value / price − 1)
Margin of safety: -132.9% (1 − price / value)
Agreement between methods: high · 2 methods used · 2 independent bases

The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 17.57 – 64.12 EUR.

Valuation assumptions are editorial choices, not measured; beta is not measured.

Method ranges (EUR per share)

— — Mid · ▏ Price

Valuation methods

  • DCF (discounted cash flow)unavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
  • Peers: EV/EBITDAunavailable · net debt missing: EV cannot be bridged to equity (missing debt is not zero)
  • Peers: P/E17.57 – 64.12 (Mid 36.80)
    20 companies used · median multiple 13.3x · quartiles 6.3x – 23.1x
    AC5.MI, ACE.MI, ADB.MI, AEF.MI, AMP.MI, ARN.MI, ASC.MI, BC.MI, BEC.MI, CAI.MI, CIR.MI, CLF.MI, COM.MI, CRL.MI, CY4.MI, DEX.MI, DIA.MI, DLG.MI, DNR.MI, ELN.MI
  • Dividend discount (DDM)25.57 – 34.87 (Mid 29.50)

Assumptions (illustrative, editorial)

Risk-free rate
3.0%
Equity risk premium
5.5%
Beta (default)
1.00
Cost of equity
8.5%
Terminal growth
2.0%

Factor scorecard

Insufficient data

Minimum-evidence gate: score weight coverage: 52.1% of at least 60%

FactorValueScoreWeight used
ROIC · Qualityunavailableunavailable—
Net margin · Quality18.9%85 (vs peers)12%
FCF conversion · Quality70.9%58 (on a fixed band)12%
Revenue CAGR 3Y · Growthunavailableunavailable—
EPS CAGR 3Y · Growthunavailableunavailable—
Net debt / EBITDA · Balance sheetunavailableunavailable—
Interest coverage · Balance sheet100.0x100 (on a fixed band)12%
Current ratio · Balance sheet2.9x100 (on a fixed band)8%
P/E (TTM) · Valuation27.9x32 (vs peers)20%
EV/EBITDA · Valuationunavailableunavailable—
FCF yield · Valuation2.5%32 (on a fixed band)16%
Shareholder yield (distributions) · Returns2.4%35 (on a fixed band)12%
Payout ratio (FCF) · Returns95.6%35 (on a fixed band)8%

Factors without a value were dropped; the remaining weights were renormalised.

Score groups

  • Balance sheet100/100 · 2/3 factors with a value
  • Growth· partialunavailable · 0/2 factors with a value
  • Quality72/100 · 2/3 factors with a value
  • Returns35/100 · 2/2 factors with a value
  • Valuation32/100 · 2/3 factors with a value

A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.

Memo

CEMBRE S.P.A. (CMB.MI). Latest full fiscal year: 2025; data up to 2025-12-31.

Figures computed from the financial statements: revenue 247.2 m EUR in 2025; YoY growth 6.7%; net margin 18.9%; ROE 20.6%.

The estimated value range is 21.57–49.49 EUR per share (median of 2 methods, agreement: high); assumptions are illustrative. Against the central value of 33.15 EUR, the price of 77.20 EUR leaves a potential of -57.1% (value / price − 1) and a margin of safety of -132.9% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.

Insufficient data for a verdict (score weight coverage: 52.1% of at least 60%).

Text generated deterministically from the figures shown; no language model. Not investment advice.

What supports the thesis

  • Net margin: 18.9%
  • Interest coverage: 100.0x
  • Current ratio: 2.9x

What contradicts it

  • The price is above the estimated value range

Not assessed (insufficient data or a ratio without meaning): ROIC, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, EV/EBITDA.

Versus the vertical median

Listed companies from Italy · same country · compared with 39 companies

Multiples and returns vs the median

P/E
27.9x
vertical median 15.8x
above median (+76.4%)
EV/EBITDA
—
vertical median 8.4x
P/S
5.3x
vertical median 1.1x
above median (+381.7%)
P/B
5.6x
vertical median 1.1x
above median (+420.7%)
ROE
20.6%
vertical median 8.5%
above median (+142.3%)
Net margin
18.9%
vertical median 6.2%
above median (+203.7%)
EBIT margin
24.2%
vertical median 9.5%
above median (+155.1%)
Revenue YoY
6.7%
vertical median 0.4%
above median (+1,481.4%)
Net debt/EBITDA
—
vertical median 0.5x
Dividend yield
2.4%
vertical median 3.7%
below median (−33.9%)

Price rebased to 100 (monthly, 5 years)

Companies in the vertical

Market capP/EROENet marginRevenue YoY1A / 3A
DLG.MIDe' Longhi S.p.a.6.7 bn21.315.4%8.4%+8.7%+22% / +58%
ACE.MIAcea S.p.a.4.6 bn9.618.2%16.6%+0.2%−4% / +72%
DIA.MIDiasorin S.p.a.4.4 bn28.89.2%13.0%+0.8%+33% / −5%
CRL.MICarel Industries S.p.a.3.0 bn40.916.1%11.7%+8.7%+7% / +14%
AMP.MIAmplifon S.p.a.2.6 bn29.18.5%3.8%−0.6%−11% / −59%
ELN.MIEl.en. - S.p.a.1.3 bn31.410.9%7.3%+4.2%+31% / +79%
CMB.MICembre S.p.a.1.3 bn27.920.6%18.9%+6.7%+15% / +114%
COM.MIComer Industries S.p.a.1.3 bn19.112.8%7.1%−23.0%+11% / +68%
DNR.MIIndustrie De Nora S.p.a.1.1 bn13.78.6%9.4%+1.4%−21% / −61%
ARN.MIAlerion Clean Power S.p.a. In Forma Abbreviata Alerion S.p.a.986.3 m10.623.5%41.0%+1.8%−3% / −22%
AVIO.MIAvio S.p.a.909.3 m89.42.1%1.8%+21.5%+22% / +302%
CIR.MICir S.p.a. - Compagnie Industriali Riunite799.2 m6.117.1%7.3%+1.6%+6% / +75%
ASC.MIAscopiave S.p.a.639.9 m17.94.2%17.5%+13.4%−9% / +31%
AC5.MIAcinque S.p.a.408.7 m19.44.1%3.6%+0.2%−7% / +7%
BAN.MIBasic Net S.p.a.345.1 m—-4.9%-3.5%+0.4%−31% / +4%
ADB.MIAeroporto Guglielmo Marconi Di Bologna S.p.a.319.0 m12.811.1%13.7%+9.2%−3% / +10%
CAI.MICairo Communication S.p.a.290.6 m6.48.1%4.4%−1.3%−22% / +29%
ECNL.MIAquafil S.p.a.130.1 m—-3.2%-0.9%−3.9%−1% / −52%
BEC.MIB&C Speakers S.p.a.119.8 m11.818.5%10.2%−1.3%−25% / −31%
ABT.MIAbitare In S.p.a.76.3 m277.00.4%0.4%+39.8%−6% / −47%
ELC.MIElica S.p.a.64.0 m—-7.8%-2.2%+1.9%−34% / −49%
DEX.MIDexelance S.p.a.50.7 m2.811.0%5.4%+12.6%−63% / −78%
CLE.MIClass Editori S.p.a.34.4 m—-29.2%-3.8%−0.7%−11% / +102%
AEF.MIAeffe S.p.a.11.7 m0.621.9%7.7%−21.3%−52% / −84%
CLF.MICaleffi - S.p.a.11.6 m5.210.9%3.8%−2.5%−4% / −10%

1- and 3-year price returns: for CMB.MI from daily closes (the same as the performance table), for the other companies from month-end closes.

olivLaw engine forecast

The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.

The engine has no published run for this company yet.

Valuation scenarios (editable assumptions)

Illustrative scenarios

Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.

Bear
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Base
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Bull
Allowed range: -50 … 50%
Allowed range: -100 … 100%
Allowed range: 0 … 100
Allowed range: -10 … 20%
Allowed range: 0 … 100%
Nothing is saved.

Estimated price (EUR)

Estimated priceBearBaseBull
1 years
46.66
Total return -38% · Per year -38%
82.41
Total return 9% · Per year 9%
124.01
Total return 64% · Per year 64%
3 years
47.36
Total return -33% · Per year -12%
93.91
Total return 30% · Per year 9%
154.86
Total return 111% · Per year 28%
5 years
48.06
Total return -28% · Per year -6%
107.01
Total return 53% · Per year 9%
193.39
Total return 170% · Per year 22%
What moves the 3-year price the most
  • Exit P/E± 23.48
  • Net margin± 16.43
  • Annual revenue growth± 13.21
  • Annual dilution± 1.38

AI analysis

AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

In brief

CEMBRE is an Italian industrial group listed on Euronext Milan that designs and manufactures tools and equipment for electrical connection, including battery-powered tools. Its 2025 annual report shows high return on sales and a solid financial structure, which makes the company relevant to investors following the electrical connection industry. 1

SWOT

Strengths

  • Solid financial position, with high profitability and liquidity indicators, according to the 2025 annual report.
  • Focus on innovation and on the product range, supported by constant investment in intangible resources.
  • Limited currency exposure, thanks to the predominant use of euro in transactions.

Weaknesses

  • Dependence on copper as the main raw material, with prices rising in the latter part of 2025.
  • Governance structure with a limited number of independent directors, according to the report.
  • Activity concentrated in a single domain, which limits revenue diversification.

Opportunities

  • Growing use of electricity as a motive force could expand demand for battery tools.
  • Continued development of the product range could open new markets through foreign subsidiaries.
  • The transition to a low-emission economy could favour products with electric power.

Threats

  • Trade policy uncertainty and international tariffs could affect supply chains.
  • Copper price volatility could reduce margins if costs cannot be passed on to customers.
  • Weak macroeconomic conditions could slow demand, as the report's warnings suggest.

Risks

  • Copper pricehigh

    Copper is the dominant raw material, and rising quotations could compress the company's margins.

  • Macroeconomic uncertaintymedium

    Factors such as GDP growth, consumer and business confidence and interest rates could affect demand, according to the report.

  • Trade policymedium

    Tariffs and trade negotiations could generate uncertainty, although the report does not anticipate relevant effects for the group.

  • Climate riskslow

    Physical and transition climate risks could influence the usability and useful life of investments.

  • Integrity and reputationlow

    Unlawful conduct by employees could lead to reputational loss and sanctions, although a prevention model is in place.

Investment thesis

What would need to be true (bull case)

  • High return on sales and solid liquidity could give the company room to manoeuvre in periods of uncertainty.
  • The shift towards battery tools could expand demand for the group's range, if continuous innovation keeps pace.
  • Limited currency exposure and a balanced financial structure could support the stability of results.

What would break the thesis

  • Dependence on copper and its price trend could hurt margins if costs cannot be passed on.
  • Macroeconomic uncertainty and trade policy could slow demand in certain markets.
  • Concentration of activity in a single domain could limit the ability to offset any market slowdown.

What to watch

  • Trend in copper quotations and impact on margins2026
  • Development of demand for battery-powered tools2026
  • Effects of international trade policy on supply chains2026
  • Renewal and extension of the product range in foreign subsidiariesnext 10-K

Products, market & competition

AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.

The business

The CEMBRE group operates in electrical connection, with a business model centred on innovation, a broad product range and attention to process quality. The report 1 describes its value chain, from extraction and processing of raw materials through production, sales, customer support and outbound logistics. The predominant raw material is copper, whose price is monitored constantly.

The company states that it continuously develops its own range and invests in its intangible resources, such as human capital, know-how and relationships with customers and suppliers. According to the report 1, an important part of the offering now consists of battery-powered tools with performance comparable to combustion-engine machines.

The governance structure is traditional, with a Board of Directors, a Board of Statutory Auditors and an independent external auditor. The company has subsidiaries in several countries, and most transactions are carried out in euro, which reduces currency exposure, according to the report 1.

Segments

Tools and equipment for electrical connection

The main segment includes tools and equipment for electrical connection, including battery models whose performance approaches that of combustion-engine equipment, according to the report 1.

Customer service and logistics

The group's activity also includes sales, customer support and outbound logistics, as part of the value chain described in the report 1.

Market context

CEMBRE operates in the electrical connection market, where the report 1 notes a growing use of electricity as a motive force, which could favour the company. Macroeconomic uncertainty, trade tariffs and the copper price nonetheless shape the context in which the group operates.

The company states that, despite uncertainty about demand, it relies on its equity strength and competitiveness, which could support adaptation to changing scenarios, according to the report 1.

Trends

  • Electrification of toolstailwind

    The growing number of battery tools, whose performance approaches that of combustion-engine models, could strengthen demand for the company's range, according to the report 1.

  • Copper priceheadwind

    Copper remains the main raw material, and rising quotations in the second half of 2025 could pressure margins if they cannot be passed on in prices, as the report 1 suggests.

  • International trade tensionsmixed

    US tariffs and uncertainty in global trade policy create a volatile context, although the report 1 does not foresee relevant effects on the group's specific market.

  • Transition to a low-emission economymixed

    The company believes its business model and products will remain attractive during the energy transition, but physical and transition climate risks remain difficult to estimate, according to the report 1.

Competitive position

The report 1 does not explicitly identify the group's competitors. The company maintains its position through continuous innovation, range extension and targeted commercial policies through its foreign subsidiaries.

The competitive advantages mentioned include production technology and periodic renewal of machinery. Competitors can, however, only be identified from other sources, not from the texts provided.

  • Competitors not named in the source

    The report 1 does not name the group's direct competitors, so none can be listed here.

  • Producers of battery-powered tools

    The segment of battery-powered electric tools is mentioned as a market trend, without details on competitors.

  • Suppliers of combustion-engine equipment

    The report compares battery tool performance with combustion-engine equipment, without naming producers.

  • Other producers of connection components

    The text gives no information about other industry players, so no verifiable names come from the source.

News & filings

In the press

No news in our archive over the last 180 days.

Annual reports (ESEF)

Sources

  1. [1] Annual report, fiscal year ended 2025-12-31 (ESEF) · SEC / CEMBRE S.p.A. · 31 Dec 2025

Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.

CEMBRE S.p.A. (CMB.MI): stock, results, valuation and forecast · olivLaw