Moving forward in a
Business Areas
Growth, Innovation and Commitment
Finance, Industry, Retail, and Knowledge are the business areas of the MONDRAGON cooperatives; in 2025, aggregate sales amounted to 11,322 million euros, investments reached 406.3 million euros, and the aggregate net profit stood at 618.8 million euros, with an average workforce of 71,415 people after having generated 1,346 new jobs during the fiscal year.
Once again, MONDRAGON’s commitment to innovation remains highly significant, employing 2,100 people full-time in R&D; furthermore, the resources allocated to R&D in 2025 amounted to 218 million euros, and the total number of active patent families stood at 386—a truly remarkable figure for the Basque Country as a whole—with MONDRAGON integrating 12 entities, including technology centers (5) and R&D units (7).
Finance
In a fiscal year marked, once again, by uncertainty stemming from persistent geopolitical tensions, LABORAL Kutxa completed the year with excellent results, achieving a net profit of 305 million euros; meanwhile, LagunAro EPSV’s performance in 2025 was also highly positive, with a net global return of 6.78% and a solvency margin of 6.03%, comfortably exceeding the legal threshold.
In 2025, despite a complex geopolitical and economic environment, LABORAL Kutxa achieved solid growth, with a net profit of 305 million euros thanks to its cooperative model, operational efficiency, and proper risk management. The entity stood out for its financial strength (CET1 of 26.22%, ROE of 12.68%, and LTD of 66.17%), a 7.8% increase in intermediated funds, and a 6.5% growth in lending investment. In insurance, total premiums increased by 1.9%, reaching 202.3 million euros and surpassing 300,000 customers in this business area.
In 2025, LagunAro, EPSV achieved a 6.78% return on its investment portfolio thanks to the strong performance of the markets, which allowed it to improve its solvency margin to 6.03%. The number of active members reached 30,135, and the group of pensioners now stands at 16,334. In terms of benefits, Healthcare expenses increased (+2.2%) and Temporary Disability improved (with an absenteeism rate of 6.86%). Furthermore, disability management programs were reinforced. In Employment Assistance, spending was significantly lower than projected, allowing the fund to rise to 177.62 million euros.
Industry
Global economic growth stood at 3.4% in 2025, within a complex context marked by high uncertainty stemming from geopolitical tensions and the trade policy of the US administration. Despite this, economic activity showed remarkable resilience, supported by strong private consumption and solid labor markets in the major economies. The progressive easing of inflation and the gradual loosening of monetary conditions helped sustain demand. In this context, the Industry division closed 2025 on a positive note, with a slight decrease in sales and earnings, the creation of industrial employment, and a firm orientation toward innovation and international competitiveness.
Sales
MONDRAGON's Industry division achieved sales of 4,919 million euros. The international nature of MONDRAGON's industrial sales is confirmed, with 73% of the total corresponding to foreign markets.
Profitability
The net profit of the industrial division stood at 251.5 million euros, slightly below the previous year but reflecting its solidity and adaptability.
Employment
26,975 jobs, with 9,708 people working in foreign production plants.
Investments
220 million euros were invested in production improvements, efficiency, and new facilities to strengthen competitiveness.
Innovation
205 million euros of investment in R&D, with a workforce of 2,133 full-time researchers.
Distribution
This Division is composed of the Eroski Group, whose main activity is retail trade, with Eroski, S. Coop. as the parent society, and Erkop, a second-tier cooperative made up of four cooperatives from the agri-food sector, along with their investee companies.
The distribution division ended the fiscal year 2025 with net sales of 6,403 million euros and an average workforce of 40,078 jobs, including cooperative members, employees, and franchisees.
EROSKI Group closed 2025 with sales of 6,081 million euros (+3.3%) and solid earnings of 47 million euros. Furthermore, the Group reinforced its operational strength, achieved its highest EBITDA of the last decade (340 million), and completed the reorganization of its financial structure. With more than 1,500 stores and a workforce exceeding 28,200 people, it passed on over 435 million euros in savings to its customers, consolidating its commitment to savings, local produce, and sustainable growth.
ERKOP closed the fiscal year with total sales of 322 million euros, earnings of 11.0 million euros, and an average workforce of 11,405 people. The group has taken a new step on its strategic path toward the Erkop of the Future, strengthening relations at the divisional level and launching diversification and innovation projects, thereby achieving a positive fiscal year with strong performance and progress on strategic projects.
Knowledge
This area is composed of the Knowledge Division, which integrates educational institutions and technology centers, and the Innovation department of the MONDRAGON corporate center. This is one of MONDRAGON's unique features: the permanent and close relationship among companies, technology centers, the university, and entrepreneurship spaces—a connection that accelerates knowledge transfer and turns ideas into real solutions.
Total R&D expenses amounted to 218 million euros, representing 4.1% of total sales, and employing 2,133 full-time researchers.