EL.En. (ELN) Q2 2025 earnings summary

Executive summary

• Consolidated revenue for H1 2025 grew 5.1% year-over-year to €285.3 million, with medical (+5.7%) and industrial (+3.7%) sectors both contributing.

• EBIT was €34.7 million (12.1% margin), down from €37.3 million (13.7%) in H1 2024, mainly due to weaker industrial performance, higher costs, and absence of prior year extraordinary gains.

• Net income dropped to €17.9 million from €27.3 million, impacted by FX losses, discontinued operations, and absence of prior year extraordinary income.

• Sale of majority stake in Chinese laser cutting business (Penta Laser Zhejiang) completed in July 2025, removing a loss-making segment and expected to strengthen the group’s financial position.

Financial highlights

• Gross margin was €126.2 million (44.2% of revenue), up 5.3% year-over-year, with stable margin rates.

• EBITDA was €42.2 million (14.8% margin), down 2.7% from H1 2024.

• Net financial position decreased by €20.6 million to €90 million, mainly due to dividends, capex, and working capital absorption.

• Operating expenses rose, especially in G&A, R&D, IT, and sales/marketing; staff costs increased due to headcount and salary hikes.

• Cash and cash equivalents at period end: €118.3 million.

Outlook and guidance

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

• Guidance anticipates both revenues and EBIT to surpass 2024 levels, contingent on sustained order intake and no major external disruptions.