Azelis reports growth and impairment. Azelis stock sits 11.72 percent below its high

Published on 10/23/2026 at 10:05 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

The third-quarter update showed 8.5 percent organic growth. Azelis stock costs EUR 11.98 on October 23, 2026, below its EUR 13.57 high.

Operating figures and valuation

On October 22, 2026, Azelis reported 8.5 percent organic revenue growth in the third quarter.
A EUR 350 million goodwill impairment in the Americas accompanied a 10.2 percent adjusted EBITA margin.
Azelis stock trades at EUR 11.98 at 10:01 a.m. CEST at Lang & Schwarz on October 23, 2026.

Azelis, BE0974400328, Illustration mit AI erstellt.

Azelis Group N.V. (ISIN BE0974400328) reported 8.5 percent organic revenue growth in the third quarter and a EUR 350 million non-cash goodwill impairment in the Americas on October 22, 2026. The stock was trading at EUR 11.98 at Lang & Schwarz on October 23, 2026, while the 52-week high stood at EUR 13.57.

Third-quarter growth meets impairment

According to Azelis, third-quarter revenue rose 8.5 percent at constant exchange rates to EUR 1.1 billion, with organic growth contributing 8.2 percent and acquisitions adding 0.3 percent. Adjusted EBITA increased 14.6 percent to EUR 114 million, lifting the adjusted EBITA margin to 10.2 percent.

The release also reported EUR 67 million of free cash flow and a 58.6 percent conversion ratio for the quarter. Net debt stood at EUR 1.6 billion and leverage at 3.46 times, while the Americas impairment reflected lower valuations for acquisitions completed between 2021 and 2023.

What does growth mean for margins?

The operating mix is the key investor question because profit growth outpaced revenue growth by 6.1 percentage points in the third quarter. Azelis said it maintained its full-year expectation for positive organic adjusted EBITA growth, although volume trends varied across end markets and volatility remained elevated.

Industrial Chemicals provided the stronger segment signal, with revenue up 21.0 percent at constant exchange rates to EUR 451 million. Life Sciences revenue rose 1.5 percent at constant exchange rates to EUR 671 million, leaving the business exposed to uneven demand in food and nutrition, agriculture, and fragrances.

Three recent events shape the picture

The chronology is clear: on October 8, 2026, Azelis announced four exhibition stands for its formulation concepts; on October 19, 2026, Azelis disclosed UBS holdings that crossed the 3.00 percent threshold; and on October 22, 2026, Azelis published its third-quarter results.

Stock valuation stays below the high

The current euro quote places the stock 11.72 percent below its EUR 13.57 52-week high, based on the Lang & Schwarz price of EUR 11.98. Azelis is listed on Euronext Brussels under ticker AZE and is included in the BEL20 index.

Stock price and investor context

Azelis was trading at EUR 11.98 at Lang & Schwarz on October 23, 2026 at 10:01 a.m. CEST. The 52-week range was EUR 6.88 to EUR 13.57, and market capitalization was EUR 2.9 billion as of October 23, 2026.

The further course of trading is shown by the continuously updated real-time quote of Azelis stock.