Kontron (SANT) investor relations material

Executive summary

• Q3 2025 EBITDA reached EUR 47.6m, stable sequentially, with a significant leap in operating cash flow to EUR 33.5m, driven by inventory reduction.

• 9M 2025 revenues were EUR 1,182m, down 2.1% year-over-year, mainly due to deconsolidation of the COM business.

• EBITDA for 9M 2025 rose 37% to EUR 194m, including a EUR 46m one-off gain from portfolio streamlining.

• Net income attributable to shareholders increased to EUR 111m, up 78.5% year-over-year.

• Ongoing portfolio streamlining focuses on high-margin Software + Solutions and IoT, with exits from low-margin EMS/IT/COM businesses.

Financial highlights

• Q3 2025 revenue was EUR 401m, down 6.3% year-over-year; gross profit fell 9.0% to EUR 174m.

• Gross margin for 9M 2025 was 41.7%, down from 43.0% in 9M 2024.

• Operating cash flow for 9M 2025 surged to EUR 49.7m from EUR 2.8m.

• Cash and cash equivalents stood at EUR 187.6m as of September 30, 2025.

• Net debt at EUR -229m, with further improvement expected.

Outlook and guidance

• 2025 revenue guidance at EUR 1.7bn and EBITDA above EUR 220m, plus a special effect of EUR 46m.

• Further profit growth is anticipated in 2026, driven by IoT, AI, and cybersecurity solutions.

• Focus on improving equity ratio and reducing net debt below 1x EBITDA.

• Continued emphasis on high-margin segments and portfolio optimization.