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GLX Holding (GLX) investor relations material
GLX Holding Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary13 Nov, 2025
Executive summary
Order intake increased by 5.2% year-over-year to NOK 1,002 million, driven by strong performance in Marine, Offshore & Wind (MOW) and renewed momentum in Professional Building Solutions (PBS).
Achieved strong strategic execution and maintained margin discipline despite a mixed market environment.
Continued progress on the Green Light strategy, focusing on retrofit opportunities, smart lighting, and high-growth verticals.
Major contract wins in smart lighting for commercial buildings, defense sectors, and MOW, including projects for Hornsea 3 offshore wind farm and UK/Canadian naval vessels.
Advanced digital transformation initiatives, including rollout of the myGlamox customer portal.
Financial highlights
Q3 2025 adjusted total revenue and other operating income was NOK 1,075 million, down 3.8% year-over-year; year-to-date revenue was NOK 3,302 million, a 0.5% decrease.
Adjusted EBITA for Q3 2025 was NOK 185 million, a 14.1% decline year-over-year; year-to-date adjusted EBITA increased by 2.7% to NOK 509 million.
Adjusted EBITA margin for Q3 2025 was 17.2%, down from 19.3% last year; year-to-date margin improved to 15.4%.
Net profit for the period was NOK 56 million, down from NOK 61 million in Q3 2024.
Net cash flow from operating activities was NOK 121 million, mainly due to inventory build-up.
Outlook and guidance
Market fundamentals driven by energy savings, refurbishment activity, regulation, and smart lighting solutions.
Long-term growth prospects remain positive, supported by demand for energy-efficient smart lighting and investments in offshore energy, navy, and wind sectors.
Near-term visibility is uncertain due to macroeconomic and geopolitical factors, but positioned to capitalize on growth opportunities through the Green Light Strategy.
External forecasts indicate a potential recovery in newbuild construction in the medium term, though timing remains uncertain.
Continued focus on innovation, sustainability, and digitalization to drive future growth.
Why the Q3 inventory build-up?
PBS retrofit demand drivers?
Update on UK facility & TenneT supplier change.
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Next GLX Holding earnings date
Q4 202527 Feb, 2026
Next GLX Holding earnings date
Q4 202527 Feb, 2026
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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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