EL.En. (ELN) Q2 2025 earnings summary

Executive summary

• Consolidated revenue for H1 2025 grew 5.1% year-over-year to €285.3 million, driven by medical (+5.7%) and industrial (+3.7%) sector growth.

• EBIT declined to €34.6 million (12.1% margin), down 7% from H1 2024, mainly due to weaker industrial performance, negative FX, and absence of prior year extraordinary gains.

• Net income dropped to €17.9 million from €27.3 million, impacted by discontinued operations, FX losses, and non-recurring items.

• Sale of majority stake in Chinese laser cutting business (Penta Laser Zhejiang) completed in July 2025, removing a loss-making segment and strengthening financial position.

• Medical sector outperformed, with notable growth in surgical, anti-aging, and physiotherapy applications, offsetting softness in hair removal.

Financial highlights

• Revenue: €285.3M (+5.1% YoY); medical sector +5.7%, industrial sector +3.7%.

• Gross margin: €126.2M (44.2% of sales, +5.3% YoY), with improved sales mix.

• EBITDA: €42.2M (-2.7% YoY, margin 14.8%); EBIT: €34.7M (-7% YoY, margin 12.1%).

• Net financial position at €90M, down €20.6M due to dividends, capex, and working capital absorption.

• Dividend of €0.22 per share distributed, totaling €17.6M.

Outlook and guidance

• Management reaffirms annual revenue growth target for 2025 and expects EBIT improvement, supported by a strong order backlog.

• Positive outlook contingent on continued order intake and absence of external disruptions.

• Market conditions remain favorable in medical, though US tariffs and FX volatility pose uncertainties.