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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.
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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