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GLX Holding (GLX) investor relations material

GLX Holding Q2 2025 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q2 2025 earnings summary21 Aug, 2025

Executive summary

  • Adjusted EBITA margin stable at 14.4% in Q2 2025, with year-to-date margin up 1.9 percentage points to 14.6% and adjusted EBITA up 15.6% year-over-year, reflecting operational improvements and a favorable product mix.

  • Order intake up 6.1% year-over-year in Q2 2025, driven by strong Marine, Offshore & Wind (MOW) performance and major offshore wind contracts, while Professional Building Solutions (PBS) faced softness in newbuild construction but steady retrofit demand.

  • Green Light strategy progressing, focusing on growth, innovation, and sustainability, with connected lighting now accounting for 45% of sales.

  • Strategic initiatives included the launch of a new energy-efficient luminaire, completion of production transfer to Poland, and compliance with new cybersecurity regulations.

  • Market fundamentals supported by energy savings, refurbishment activity, regulation, and smart lighting solutions.

Financial highlights

  • Q2 2025 order intake: NOK 1,178 million (+6.1% YoY); year-to-date: NOK 2,481 million (+12.5% YoY).

  • Q2 2025 total revenue: NOK 1,102–1,107 million (down 3.6–4.0% YoY); year-to-date: NOK 2,228–2,233 million (up 1.1–1.3% YoY).

  • Q2 2025 adjusted EBITA: NOK 158 million (down 4.9% YoY); year-to-date: NOK 324 million (up 15.6% YoY).

  • Q2 2025 net profit: NOK 26 million (vs. loss of NOK 15 million in Q2 2024).

  • Q2 2025 net cash flow from operating activities: NOK 49 million (down from NOK 191 million YoY), impacted by higher tax payments and working capital movements.

Outlook and guidance

  • Green Light strategy on track, with continued focus on operational progress, innovation, and sustainability.

  • Market recovery in newbuild construction expected in the medium term, though timing remains uncertain due to macroeconomic and geopolitical factors.

  • Continued demand for energy-efficient and smart lighting solutions anticipated, with long-term growth prospects supported by investments in offshore energy, navy, and wind sectors.

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Frequently asked questions

GLX Holding AS is a company active in the lighting industry.The company specializes in delivering comprehensive lighting solutions for both marine, offshore & wind sectors, and professional building applications, emphasizing sustainability and innovation in its offerings. These sectors benefit from Glamox's extensive range of lighting products designed to cater to the specific needs of commercial vessels, navy segments, and wind energy projects, as well as professional buildings seeking advanced LED and connected lighting technologies. The company is headquartered in Oslo, Norway, and its shares are listed on the Oslo Stock Exchange.

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