Arteche Lantegi Elkartea (ART) H2 2025 earnings summary

Executive summary

• Record 2025 results: revenue €508.4M (+15.3%) and order intake €590.1M (+16.0%), with all regions and business lines contributing.

• Net profit nearly doubled to €45.3M (+93.4%); EBITDA rose 43.6% to €80.5M, with margin up 310 bps to 15.8%.

• Strategic Plan 2024–2026 targets were achieved a year ahead of schedule.

• Share price rose 201% in 2025; moved from BME Growth to the Main Market in February 2026.

• Progress in ESG, innovation, and governance, including improved sustainability ratings and milestones.

Financial highlights

• Revenue: €508.4M (+15.3%); order intake: €590.1M (+16.0%); book-to-bill: 1.16x.

• Direct margin: €191.3M (+18.6%), or 37.3% of sales (+170 bps); EBITDA: €80.5M (+43.6%), or 15.8% of sales (+310 bps).

• Operating profit: €64.4M (+45.4%); net profit: €45.3M (+93.4%); EPS: €0.79 (+93.7%).

• Free cash flow: €25.8M; net financial debt/EBITDA improved to 0.3x from 0.5x.

• €9.4M dividend distributed, representing a 50% payout ratio.

Outlook and guidance

• FY2026 revenue guidance: €555–585M; EBITDA: €87.7–95.4M; EBITDA margin: 15.8–16.3%.

• Continued capital expenditure planned to meet demand and expand global capabilities; a new 2027–2029 Strategic Plan is in preparation.

• Growth opportunities span network reliability, power quality, storage, power electronics, automation, and digitalization.