Foreword from the CEO for the 2025 Annual Report
As we look back on 2025, I am pleased to reflect on a year in which Messer demonstrated solid performance, high resilience, further innovations, and strong dedication: Despite an environment shaped by geopolitical tensions and economic uncertainty, Messer once again proved its ability to adapt successfully in a volatile world. Our local-for-local operating framework limited the direct impact of these developments and enabled us to create value for all our stakeholders.
This year, we delivered global revenues of € 4.5 billion, underscoring the strength of our diversified business model. We achieved a solid EBITDA of € 1.4 billion and maintained a stable EBITDA margin of 31 %.
Sustainability and innovation remain central to our long term strategy. In 2025, we continued to invest in advanced technologies and application solutions, in decarbonization, green hydrogen, and next generation manufacturing. These initiatives position Messer as a leader in delivering sustainable solutions for the future.
Our regional results mirror the balanced strength of our global footprint and diversified portfolio of products, end-markets and customers. Adjusted for translational currency effects, all regions posted growing revenues. In Asia, we saw continued revenue growth across electronics and battery materials as well as the steel industry, even amid deflationary pressures in China. In Europe, revenues grew on the back of increasing demand for the food and beverage and healthcare sectors. In the Americas, we continued to grow with increasing demand from industries such as food and beverage, aerospace and electronics. Our strategic investments in helium assets and reserves in 2024 were fully integrated in the Americas region and further strengthen Messer’s sourcing capabilities and improve the operational flexibility to serve our customers.
In 2025, net debt decreased from € 3.6 billion to € 3.2 billion, strengthening our balance sheet further to support our long term growth aspirations. Enabled by the strong cash-generative nature of our business, we invested € 747 million in new production facilities and infrastructure, with a focus on countries such as the United States, China, and Vietnam.
Looking ahead, we see opportunities driven by global decarbonization efforts, advancements in artificial intelligence, and increasing demand for sustainable industrial solutions. We are committed to capturing this potential and maintain our effort on operational excellence and customer focused innovation.
None of our successes would have been possible without the commitment and expertise of our employees. Their dedication to our mission and values enables us to continue delivering on our purpose of “Gases for Life” every day.
As we begin 2026, I would like to express my sincere gratitude to our shareholders, debt investors, customers, and business partners for their ongoing trust and support. Together, we will continue building a sustainable, innovative, and resilient future for Messer and the communities we serve.
