Dr. Hönle (HNL) Q3 2025 earnings summary

Executive summary

• Revenue for the nine months ended June 2025 declined 3.1% year-over-year to €69.8 million, with gross profit down 1.7% to €44.7 million.

• EBITDA fell 11.7% to €3.6 million, and EBIT was negative at -€0.6 million, compared to -€0.1 million last year.

• Net loss widened to €1.3 million from €0.95 million, with EPS at -€0.22 versus -€0.17 year-over-year.

• Geopolitical uncertainties and sector-specific challenges, especially in Adhesive Systems, weighed on performance.

Financial highlights

• Revenue: €69.8 million (down 3.1% year-over-year); gross profit: €44.7 million (down 1.7%).

• EBITDA: €3.6 million (down 11.7%); EBIT: -€0.6 million (down from -€0.1 million).

• Net loss: €1.3 million (widened by 39.5%); EPS: -€0.22.

• Operating cash flow: €3.7 million (down 18.1%); cash and cash equivalents: €5.9 million.

Outlook and guidance

• Full-year sales expected between €92–94 million (prior year: €98.7 million).

• EBITDA guidance for FY 2024/25 is €5–6 million, in line with prior year adjusted EBITDA.

• Management anticipates sales and earnings growth in Curing and Disinfection units, with Adhesive Systems expected to recover, especially in Asia and North America.