Biesse (BSS) Q4 2025 earnings summary

Executive summary

• FY 2025 net revenues declined 12.2% year-over-year to €662.5 million, with decreases across all business lines and regions; Q4 revenues were €180.1 million, down 7.1% from Q4 2024.

• Adjusted EBITDA dropped 34.4% to €38.6 million (5.8% margin), with Q4 Adjusted EBITDA at €13.4 million (7.4% margin).

• Net result turned negative at (€19.6 million), impacted by €18.5 million in non-recurring items and restructuring costs; Q4 net loss was €10.7 million.

• Management highlights initial positive effects from reorganisation measures, with improved order intake and operating profitability in the latter part of the year.

• Order intake and backlog both declined, but backlog still covers about four months of operations.

Financial highlights

• Sales fell by €92.2 million year-over-year, mainly due to lower volumes in Machines & Lines, especially in wood, stone, and glass segments.

• Adjusted EBIT was €2.1 million (0.3% of net sales), down 89% from FY 2024; Q4 Adjusted EBIT was €4.0 million.

• Net financial position (excluding IFRS 16) was positive at €1.5 million at year-end, down from €25.0 million in 2024.

• Value of production for FY 2025 was €679.3 million, down 10.5% year-over-year.

• Gross margin impacted by higher raw material and personnel expenses, with EBITDA margin dropping from 7.8% to 5.8%.

Outlook and guidance

• Management expects continued focus on operational efficiency, cash generation, and financial strength.

• The 2026-2028 Business Plan aims to accelerate return to profitable, sustainable growth amid challenging macroeconomic and geopolitical conditions.

• Q4 2025 showed encouraging signs with a reversal in order intake trends and stable operating profitability before non-recurring events.

• Backlog provides short-term operational visibility, supporting planning and working capital management.