Berentzen-Gruppe (BEZ) investor relations material

Executive summary

• Consolidated revenues for the first nine months of 2025 declined by 10.8% year-over-year to EUR 119.4 million, with adjusted EBIT and EBITDA also significantly below prior-year levels but remaining positive.

• The equity ratio improved to 36.7% from 32.5% a year earlier, reflecting a stronger capital structure.

Financial highlights

• Adjusted consolidated EBIT was EUR 5.6 million, down from EUR 7.6 million year-over-year.

• Adjusted consolidated EBITDA reached EUR 12.1 million, compared to EUR 14.1 million in the prior year.

• Operating cash flow was EUR 9.6 million, slightly below the previous year's EUR 10.5 million.

• Cash and cash equivalents at period end improved to EUR -1.8 million from EUR -6.6 million a year earlier.

Outlook and guidance

• Revenue forecast for full-year 2025 was revised downward to EUR 165.0–169.0 million, from a previous range of EUR 172.0–178.0 million.

• EBIT and EBITDA forecasts remain unchanged from the July 2025 update.

• The outlook is subject to general economic and industry-specific conditions, as well as risks and opportunities outlined in prior reports.