Outlook

As far as KOS is concerned, a further consolidation of occupancy levels is expected, driven by the gradual recovery of regions not yet fully operational and by the growth of facilities currently being launched. In the absence of unforeseen events or circumstances, KOS’s operating results for 2025 are expected to show a significant improvement compared to 2024.

As far as Sogefi is concerned, visibility on the trend of the automotive market in the coming months is severely penalized by the difficulty of predicting the effects of tariffs.

Based on the latest estimate by S&P Global (IHS) on global vehicle production, and assuming a certain stability in raw material and energy prices, Sogefi confirms, for 2025, its forecast of a mid-single-digit decline in revenues and a slightly higher EBIT margin compared to that recorded in 2024, excluding any unforeseen non-recurring charges and new events/circumstances that could negatively impact the automotive market. A more significant reduction in volumes from the coming months compared to current forecasts cannot be ruled out, depending on tariffs.

With regard to the management of the holding’s financial assets, considering the persistent uncertainties related to the geopolitical, macroeconomic, and financial context, markets are expected to be subject to high volatility.

SOURCE: Half-Year Report 1H 2025