Cabka (CABKA) Q1 2025 TU earnings summary

Executive summary

• Q1 2025 sales reached €44.1 million, matching the same period last year despite volatile markets.

• The SHIFT plan is being executed to stabilize results and balance cash flows, showing early positive impact.

Financial highlights

• European sales grew 3% year-over-year, driven by Contract Manufacturing recovery.

• US revenue declined by €0.5 million compared to Q1 last year due to market volatility.

• ECO product volumes increased, but lower production led to a 3% year-over-year sales decrease for ECO.

Outlook and guidance

• Sales and EBITDA for 2025 are expected to be at least at 2024 levels.

• Customers remain cautious with capex amid challenging macro environment.

• Ongoing discussions with banks to renegotiate debt facility and financial covenants, following a temporary waiver valid until end of Q2 2025.