Arteche Lantegi Elkartea (ART) H2 2025 earnings summary

Executive summary

• Achieved record year with double-digit growth in order intake (€590.1M, +16%) and revenue (€508.4M, +15.3%), surpassing €500M for the first time and exceeding strategic benchmarks.

• Net profit nearly doubled to €45.3M (+93.4% y/y), reflecting strong execution of the strategic plan and margin expansion.

• EBITDA rose 43.6% to €80.5M, with margin expanding to 15.8% (+310bps), driven by sales growth, product mix, and operational productivity.

• Transitioned from BME Growth to the main market in February 2026, reflecting maturity and consolidation.

• Significant progress in ESG, innovation, and corporate governance, with improved ratings, sustainability milestones, and increased diversity.

Financial highlights

• Direct margin improved to 37.3% (+170bps y/y), with absolute growth of 18.6%.

• Free cash flow reached €25.8M, supporting financial flexibility and representing 32% of EBITDA.

• Net financial debt/EBITDA improved to 0.28x–0.3x, with high liquidity and strong balance sheet.

• Earnings per share rose from €0.41 to €0.79 (+93.7% y/y).

• Dividend payout of €9.4M (50% payout), with proposal to double to €22.6M in 2026.

Outlook and guidance

• 2026 sales forecasted between €555–585M, with EBITDA between €87.7–95.4M and margin of 15.8–16.3%.

• Growth opportunities expected in all geographies, especially in network reliability, power quality, and storage.

• New strategic plan for 2027–2029 to be presented in 2026.

• Continued CAPEX increase to meet demand and expand global capabilities.

• Strategic plan 2024–2026 targets further international expansion, new business lines, and innovation in smart grid solutions.