Biesse (BSS) Q3 2025 earnings summary

Executive summary

• Q3 2025 revenue declined 14% year-over-year to €482.4 million, with significant drops in sales, profitability, and order intake across all major segments and geographies.

• Adjusted EBITDA was €25.2 million (5.2% margin), down 42.7% from Q3 2024, and net result was negative €8.9 million, a decrease of €11.5 million year-over-year.

• Order intake and backlog declined sharply, with order intake down 11.9–12.5% and backlog down 17.4–23.6% year-over-year.

• Headcount reduced by 408 employees year-over-year, reflecting ongoing restructuring and cost containment.

• Key management changes included a new CEO and Senior Executive Officer, and the launch of a share buyback program.

Financial highlights

• Net sales for Q3 2025 were €482.4 million, down 14% from Q3 2024.

• Adjusted EBITDA was €25.2 million (5.2% margin), and adjusted EBIT was negative €1.9 million (-0.4% margin).

• Net result was negative €8.9 million, compared to a positive €2.6 million in Q3 2024.

• Net financial position (with IFRS 16) was negative €48.2 million at Q3 2025, deteriorating from negative €25 million at December 2024.

• Net operating working capital increased to €90.6–90.7 million from €77.6 million at year-end 2024.

Outlook and guidance

• Management expects Q3 to mark the bottom, with gradual improvement in financial indicators and order intake starting in Q4.

• Q4 is anticipated to be the strongest quarter, benefiting from a streamlined cost base and improved working capital management.

• The operating environment remains complicated due to global trade tensions, higher US tariffs, and geopolitical instability, particularly in Europe.

• Management withdrew the 2024-2026 Three-Year Plan, citing that previous financial targets are no longer achievable under current conditions.

• Continued focus on financial discipline, process review, and capital strength to support future growth.