Reported Earnings • May 05
Full year 2025 earnings released: €0.30 loss per share (vs €0.38 loss in FY 2024) Full year 2025 results: €0.30 loss per share (improved from €0.38 loss in FY 2024). Revenue: €185.2m (down 2.2% from FY 2024). Net loss: €7.39m (loss narrowed 21% from FY 2024). Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 3.0% growth forecast for the Packaging industry in Europe. Over the last 3 years on average, earnings per share has increased by 46% per year but the company’s share price has fallen by 34% per year, which means it is significantly lagging earnings. Announcement • Apr 25
Tosca and Cabka Launch New Circular Pallet Tosca’s new circular pallet developed in partnership with Cabka provides modern supply chains with a PPWR-compliant, automation-ready and circular alternative to one-way packaging. This innovative pallet delivers efficiency, safety and sustainability from production to retail. Launched this week, the Euro-sized Tosca Circular Pallet (CP 1208) is the next-generation pallet designed specifically for modern, automated and regulation-compliant supply chains. Engineered to integrate seamlessly into existing operations, the Tosca CP 1208 pallet delivers the consistency and reliability that automated, large-scale environments demand. The Tosca CP 1208 provides a stable, standardized platform that allows companies to modernise their supply chains efficiently, without disruption or major infrastructure investment. By transforming recycled plastic into high-performance transport assets, supply chains that are both more efficient and more sustainable are enabled. With the EU’s Packaging and Packaging Waste Regulation (PPWR) reshaping logistics and packaging strategies, supply chains now require reusable, recyclable and traceable solutions by design. The Tosca CP 1208 is engineered to support supply chains in achieving PPWR and EPR compliance, offering a future-proof alternative to wooden pallets, which require ISPM-15 heat treatment or fumigation and are less compatible with circular reuse models. Major Estimate Revision • Apr 22
Consensus EPS estimates upgraded to €0.054 loss The consensus outlook for fiscal year 2026 has been updated. 2026 losses forecast to reduce from -€0.062 to -€0.054 per share. Revenue forecast steady at €190.6m. Packaging industry in the Netherlands expected to see average net income growth of 30% next year. Consensus price target up from €3.20 to €3.28. Share price rose 4.2% to €1.98 over the past week. 
