$ARSTY

Ariston Holding NV (ARSTY) reported Q3 2026 earnings, highlighting solid revenue growth but elevated working capital and net debt. CEO Maurizio Botarelli attributed higher inventory to safety stock for heat pump demand, refrigerant transition, and weaker sales in certain regions. The company expects margin recovery once pricing and cost inflation normalize. Riello, a subsidiary, is currently dilutive but expected to achieve EUR25 million in synergies by 2030.

Ariston Holding Group reported Q3 2026 revenue of €778M, up 16.4% YoY, driven by acquisitions and FX. Organic growth was 0.6%. Adjusted EBIT margin declined to 6.9% from 7.2% YoY. Free cash flow turned negative at -€11M. Management cited cost pressures and regional challenges, with strong growth in Germany's heat pump market offset by weakness in the Middle East and Americas. The stock fell 9.36% post-results.