Datalogic (DAL) Q1 2025 earnings summary

Executive summary

• Revenue rose 1.3% year-over-year to €112.7 million, with new products accounting for 19.2% of sales, up from 11.2% last year.

• Adjusted EBITDA increased to €6.8 million (6.0% margin), up from €2.1 million (1.9%) in Q1 2024, driven by productivity and product mix.

• Net loss of €5.9 million, compared to a €6.0 million profit last year, which included a €20 million gain from a subsidiary sale.

• Data Capture segment revenue grew 10.5% year-over-year, now 66.5% of total sales, led by EMEAI (+23.1%).

• Industrial Margin improved to 43.3%, up 4.8 percentage points from Q1 2024.

Financial highlights

• Gross margin improved to 43.3% of sales from 38.4% year-over-year, reflecting better productivity and product mix.

• Adjusted EBIT was negative €1.4 million, a significant improvement from negative €5.5 million in Q1 2024.

• Net financial debt worsened to €26.8 million from €22.7 million a year ago and €9.5 million at year-end 2024.

• Net Trade Working Capital rose to €76.7 million (15.5% of sales), up from €64.4 million (13.0%) at year-end.

• Operating costs rose to €50.1 million, mainly due to a 13.7% increase in R&D expenses.

Outlook and guidance

• Full-year 2025 outlook unchanged; gradual quarterly improvement in sales and profitability expected.

• Revenue growth for 2025 expected in the range of +3% to +6%, supported by double-digit order growth.

• First half expected to be flat year-over-year, with stronger growth in the second half; double-digit operating margins targeted barring major macro/geopolitical shocks.