Calepin des entreprises international 2026 VA.pdf — page 61

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STRATEGIC HIGHLIGHTS
EURENCO
Business trends
	
 Eurenco posted revenues of €478 million in 2024, up 36.6% year-on-year, and recorded €2.2 billion in orders 
during the year. The group benefited from international geopolitical instability, particularly with the war in 
Ukraine. It aims for €1 billion sales in 2028.
	
 In December 2024, Eurenco acquired Thiot Ingénierie, a French company that specialises in impact 
technologies, ballistic testing and materials engineering. The company generates revenue of €9 million, 64% of 
which comes from exports and three-quarters from defence, and employs around 40 people.
	
 Eurenco is committing to a €650 million investment plan over the 2024-2026 period, mainly self-financed, to 
double the production capacity of its various sites in France, Belgium and Sweden.
	
 In March 2025, the group inaugurated a production line for 155mm shell powder at its Bergerac site in 
southwestern France. The plant has an annual capacity of 1,200 tonnes of large-calibre powders (enabling 
it to supply 500,000 additional modular charges per year) and the target is to reach an annual production of 
1,800 tonnes.
	
 In July 2025, Eurenco began work on expanding its Belgian site in Clermont, which will accommodate around 
100 additional employees. The aim is to double the production capacity for small-calibre powders, for which 
the group has orders until 2032.
Home market
	
 Around 20% of the group’s revenues are generated in its home market. For instance, it supplies modular 
charges for the 155mm artillery systems of KNDS France, as well as explosive charges for the F21 heavy 
torpedo (Naval Group) and the ANL / Sea Venom light anti-ship missile (MBDA, Franco-British programme).
Export markets
	
 Exports account for about 80% of the group’s revenues. Its main customers include Rheinmetall, Czechoslovak 
Group, BAE Systems and Saab.
	
  In June 2025, Eurenco entered into a long-term partnership with FN Herstal, a subsidiary of the Belgian group 
FN Browning Group, to supply high-performance powders for small-calibre ammunition.
	
 In July 2025, the group also signed a five-year agreement with Czech small-calibre ammunition manufacturer 
Sellier & Bellot, part of Colt CZ Group, to supply high-performance powders produced by Eurenco in Belgium.
	
 As part of an agreement signed in 2024, Eurenco and Poland’s Mesko (part of PGZ) announced in 
August 2025 the launch of a production line for 155mm modular charges in Pionki, Poland, with a production 
target of 100,000 units per year. Eurenco is supplying the technology and modular charge kit, while Mesko is 
responsible for local assembly using its own powders. The two companies also signed a multi-year agreement 
for the supply of nitrocellulose produced at Eurenco’s Bergerac site to Mesko.
	
 Eurenco signed an agreement with the Italian group Beretta Holding in September 2025 to supply small-
calibre powders for seven years. The powders will be produced at Eurenco’s Belgian (Clermont) and Swedish 
(Karlskoga) plants and are intended for military and civilian use in Europe and America.
Technology and Innovation
	
 Eurenco relies on a vast network of partners (laboratories, universities, public and private research centres) 
around the world to develop new innovative solutions: explosives and powders with improved performance, 
less toxic ‘green’ powders, smaller and lighter explosives for drones, products and processes for civil and 
military applications, etc.