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EcoUp (ECOUP) investor relations material

EcoUp Q4 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q4 2025 earnings summary26 Feb, 2026

Executive summary

  • Revenue for 2025 was €29.3 million, down 4.4% year-over-year; excluding M&A effects, revenue grew 2%.

  • EBITDA for 2025 was €0.7 million (2.4% margin), a significant decline from €2.8 million (9.0%) in 2024.

  • EBIT for 2025 was -€3.0 million (-10.3% margin), compared to -€1.0 million (-3.1%) in 2024.

  • Net result for 2025 was -€3.0 million, with EPS at -€0.33 versus -€0.15 in 2024.

  • Major events included the acquisition of Isoleringslandslaget AB, divestment of Uudenmaan Imupalvelu Oy, and leadership changes.

Financial highlights

  • Q4 2025 revenue was €9.3 million, down 8% from Q4 2024; excluding M&A, revenue grew 1%.

  • Q4 EBITDA was €0.8 million (8.5% margin), down from €1.3 million (13.2%) in Q4 2024.

  • Full-year net investments were €1.7 million (2024: €2.4 million), with €1.0 million in technology business.

  • Cash flow from operations was -€0.9 million, down from €2.6 million in 2024.

  • Material and service costs for 2025 were €10.2 million (34.9% of revenue), up as a share of sales.

Outlook and guidance

  • 2026 revenue expected to remain at 2025 levels; EBITDA margin is forecast to improve.

  • Medium-term targets (2026–2028): insulation business revenue >€40 million and EBITDA margin >10% by 2028.

  • Technology business aims for positive operating cash flow by end of 2026.

  • 2025 revenue included €2.2 million from discontinued operations.

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Frequently asked questions

EcoUp is a company focused on sustainable building solutions, particularly in the areas of recycling and materials efficiency. The company specializes in developing and providing environmentally friendly insulation and construction products by converting waste materials into high-performance building supplies. EcoUp’s offerings aim to reduce the carbon footprint of construction processes while promoting energy efficiency and waste minimization. The company serves the construction and real estate sectors, supporting green building initiatives and contributing to circular economy practices through its innovative product lines. The company is headquartered in Vantaa, Finland, and its shares are listed on the HEL.

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