CeoTronics (CEK) H1 25/26 earnings summary

Executive summary

• Achieved record half-year revenue of €34.2 million for the first half of 2025/2026, up 61.6% year-over-year.

• EBIT rose to €5.8 million from €1.5 million, and net income after tax increased to €3.9 million from €0.8 million.

• All key earnings figures improved significantly, with EBITDA up 193.6% and EPS up 390%.

• Largest single order in company history received after the reporting period, valued at €47 million, boosting the outlook.

• Workforce increased to 148 employees (138 FTEs), up from 129 FTEs in the prior year.

Financial highlights

• Revenue: €34.2 million (+61.6% year-over-year); EBIT: €5.8 million (+287.1%); Net income: €3.9 million (+387.7%).

• EBITDA: €6.8 million (+193.6%); EBIT margin: 17.0% (up 9.9 percentage points); Pre-tax margin: 16.6%.

• Cash flow from operations: €7.4 million; gross cash flow: €5.7 million (up from €1.3 million).

• Equity ratio increased to 68.7% from 66.5%; group equity rose by 8.3% to €30.7 million.

• EPS: €0.49 (up from €0.10); dividend of €0.20 per share paid in November.

Outlook and guidance

• Revenue target for FY 2025/2026 is €56 million; net income target is €5.3 million (+12.8%).

• High order backlog at January 2026 (€75.8 million) supports strong revenue visibility into FY 2026/2027.

• Expected improvement in net margin to 9.5% for the full year.

• Medium-term goal set to achieve €65 million in consolidated revenue ("Vision65").

• Revenue and earnings targets for fiscal year 2025/2026 are expected to be maintained.