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Lamor (LAMOR) investor relations material
Lamor Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q2 new orders rose 49% year-over-year, with major wins in Africa, South America, and Europe, including the largest African order to date and the first European remediation project.
Profitability improved for H1, exceeding the previous year, despite revenue falling short due to project timing and lower recognition from Kuwait.
Strategic expansion included a new Saudi service center, long-term contracts in Angola and Peru, and a major feasibility study in South America.
The company is a recognized leader in environmental protection, with a strong global brand and significant installed base, especially in the Arctic.
Circular oil production plant in Finland delayed; market outlook for recycled oil remains strong.
Financial highlights
Q2 2025 revenue was €21.1M, down 22% year-over-year; H1 2025 revenue was €40.2M, down 21% year-over-year.
Adjusted EBIT for H1 2025 was €2.8M (6.9% margin), up 47% year-over-year; Q2 EBIT was €1.0M (4.5% margin).
Order intake in Q2 2025 reached €20.3M, up 49% year-over-year; H1 2025 order intake was €47.9M, up 61%.
Net cash flow from operations in H1 2025 was -€4.3M, improved from -€11.3M year-over-year; Q2 2025 net cash flow was €1.4M.
Equity ratio stood at 36.2%; net gearing at 91.2%.
Outlook and guidance
2025 guidance unchanged: revenue and adjusted operating profit expected to increase versus 2024, but Q3 is expected to be weak, requiring a strong Q4 to meet targets.
Revenue is projected to be below the comparison period in Q3 but to exceed it in Q4; no revenue expected from plastic recycling in 2025.
Efficiency initiatives targeting €8M in annualized savings by 2026 have been launched, focusing on cost base and operational efficiency.
Long-term targets by 2027: revenue €170M, adjusted EBIT margin >14%.
Continued emphasis on cash flow management and timely revenue recognition in key markets.
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