Floorcoverings manufacturer Belysse, formerly known as Balta, has reported decline in half year sales.
According to its latest trading update, H1 2025 consolidated group revenues were down 7% to €134.6m from €144.7m in 2024.
Adjusted EBITDA resulted at €17.2m, down from €21.4m, while overall losses amounted to €79m, down from a profit of €10.5m year-on-year.
EU sales fell 14.7% to €58.7m from €68.8m, while US revenues were flat at €75.9m.
Commenting on the performance, the group said: “Consolidated Group Revenue for H1 2025 compared to the prior year period reflects a continued weakening of market demand in the European business at a level in line with H2 2024 trading.
“The US continued to show more resilience with volumes in line with prior year. Consolidated Group Adjusted EBITDA for H1 2025 was impacted by lower volumes in Europe as well as a weaker USD, despite a further increasing profitability of the US business.
“In the US, overall volumes in H1 2025 were stable vs. H1 2024, supported by solid performance in the corporate, education and healthcare segments. Adjusted EBITDA and Adjusted EBITDA margin improved in H1 2025 compared to H1 2024 as a result of higher unitary margins.
“Jay Brown, who has been leading Bentley Mills since 2022, left the business for personal reasons at the end of August 2025 and was succeeded by Jim Cusick, who joined the company as Interim President. With over 30 years of industry experience at Shaw Industries, Jim has successfully led large-scale operations and is known for his strong focus on safety, customer centricity, team development and driving continuous improvement.
“In Europe, H1 2025 volumes were in line with H2 2024, but below H1 2024 mainly due to the continued market softness in the Residential business as well as a strategic phase out of low profitability offerings in this segment.
“In the project-driven Commercial business volumes in H1 2025 were also below H1 2024 albeit to a lesser extent. Adjusted EBITDA and Adjusted EBITDA margin for H1 2025 reflects the negative volume effect on sales and unitary product costs that were partially offset by reduced fixed costs.”
