Interpump Group SpA

MIL:IP

Sales: Group organic sales were down 0.7% year over year in the second quarter, with Hydraulics up 6.2% and Water Jetting weaker because of a very tough comparison base.

Margins: EBITDA margin was 22.9%, down from 23.8% a year ago, but management said the business kept a resilient margin profile despite a mixed demand backdrop.

Cash flow: Free cash flow was EUR 62 million in the quarter, up 35% from EUR 46 million last year, helped by strong operating performance.

Guidance: Management kept full-year guidance unchanged, but sounded more confident that organic sales will land in the positive part of the minus 2% to plus 3% range.

Tariffs: The company said U.S. tariffs caused a EUR 6 million hit in Q2, but this was fully passed on to customers; no P&L benefit is expected from any tariff reimbursement.

M&A: Interpump added two bolt-on deals, MVV and Teknoice, and said the pipeline remains healthy, with room for more transactions if they fit strategy and pricing criteria.