Arteche Lantegi Elkartea (ART) H1 2025 earnings summary

Executive summary

• Achieved record H1 2025 results, with orders surpassing €300 million for the first time and revenue growing 13.9% year-over-year to €256.2 million, exceeding several strategic plan targets for 2026.

• Net profit rose 168.5% year-over-year to €19.9 million, with EPS increasing to €0.35, reflecting improved margins and business strategy.

• Strategic acquisitions and alliances, including RTR Energía, Teraloop, and AMETS, reinforced the company's position in grid reliability, renewables, and power electronics.

• Significant progress on ESG and sustainability, with notable improvements in waste recycling, carbon footprint reduction, and gender equality.

• All regions contributed to growth, with EMEA and APAC showing particularly strong sales increases.

Financial highlights

• Order intake reached €302.2 million (+6.2% y/y), revenue €256.2 million (+13.9% y/y), and EBITDA €38.3 million (+55.6% y/y), with EBITDA margin at 15%.

• Net profit was €19.9 million (+168.5% y/y), EPS €0.35 (+169.2% y/y), and direct margin improved to 37.1%.

• Free cash flow was €8.9 million, with EBITDA-to-cash conversion at 23–23.5%.

• Net financial debt stood at €37.3 million, with leverage at 0.6x EBITDA.

• Dividend payout was €9.4 million, representing 50% of prior year net profit.

Outlook and guidance

• FY2025 revenue guidance is €500–515 million, with EBITDA expected at €72.5–77 million and margin 14.5–15%.

• Management anticipates 12–15% sales growth and 40–50% EBITDA growth for 2025.

• 2026 guidance will be updated, as several targets have already been exceeded.

• Order backlog reached €340.3 million as of June 30, 2025, supporting continued growth.