Fluidra Posts €1,780 Million in Nine-Month Sales, Raises Annual Forecast

Key Facts

Fluidra reported sales of €1,780 million in the first nine months of 2026, up 4% year over year at constant exchange rates, according to the company’s results. The third-quarter results were presented on October 29, 2026, according to the official investor calendar. The company said performance benefited from resilient demand in the aftermarket, which offset weaker new construction activity. It added that volume made a positive contribution, while pricing improved sequentially. The results reflect continued sales growth since the start of the year, alongside a clear divergence between maintenance and new construction activity.

Fluidra’s previously announced first-half results showed sales of €1,258 million, up 5% at constant exchange rates, with positive contributions from volume and pricing. An earlier EL7 report said first-half sales were close to €1.258 billion, putting nine-month performance in the context of growth that began before the third quarter. Over the nine months, all three regions recorded growth on a constant currency and consolidation scope basis, led by Europe at 4.2%. Sales rose 3.5% in North America, while the rest of the world recorded a 1.5% increase. The figures show growth across regions, with Europe posting the strongest pace among those disclosed by the company.

Adjusted earnings before interest, taxes, depreciation and amortization reached €428 million in the nine-month period, up 6% at constant exchange rates. The margin on this earnings measure rose to 24.1% from 23.9% in the year-earlier period, the company said. In the first half alone, adjusted earnings reached €321 million, up 6% at constant exchange rates, and the margin was 25.5%. Adjusted net profit also rose 6% at constant exchange rates to €221 million in the nine months, while adjusted earnings per share reached €1.15. Adjusted net profit in the first half was €175 million, up 7%, and adjusted earnings per share was €0.91, according to the company’s results for that period.

Fluidra said savings from its efficiency plan reached €23 million in the nine months and, together with cost control and pricing measures, helped offset higher inflation, tariffs and product mix effects. In its statement, Executive Chairman Eloi Planes said: "We continued to gain market share, supported by the resilience of the aftermarket and the strong execution of our teams." The company said aftermarket demand remained resilient, supported by market share gains. By contrast, new pool construction and renovation activity remained weak in some of its key markets. The divergence highlights the importance of demand tied to existing pools and maintenance in supporting sales as construction and renovation activity declined in those markets.

The company ended the period with net debt of €1,145 million, and the ratio of net debt to adjusted earnings before interest, taxes, depreciation and amortization stood at about 2.2 times year over year. Fluidra linked this level, among other relevant factors, to the completion of a €40 million share buyback program. The company narrowed its 2026 outlook and now expects sales growth of between 3.5% and 5.5% at constant exchange rates. It also set a range of 23.3% to 23.5% for its adjusted earnings before interest, taxes, depreciation and amortization margin, and forecast adjusted earnings per share growth of between 5% and 9%. Its previous forecasts were sales growth of between 3% and 7%, a margin of between 23.3% and 24.3%, and earnings per share growth of between 4% and 13%.

In July, Fluidra signed an agreement to acquire France’s Hydrapro, which specializes in water treatment products for swimming pools and spas and has annual revenue of about €30 million. The company said at the time that the deal was expected to close in early 2027, subject to customary closing conditions. The announcement comes as the company expands in water treatment-related activities while continuing to monitor aftermarket demand. Under the timeline announced by Fluidra, the deal remains subject to the fulfillment of its conditions before its expected completion.