EL.En. (ELN) Q3 2025 earnings summary

Executive summary

• Consolidated nine-month revenues reached €422 million, up 3.9% year-over-year, with medical (+4.6%) and industrial (+1.9%) sectors contributing to growth; EBIT was €55 million (13% margin), down 3.3%, but Q3 EBIT rose 3.8% year-over-year.

• Medical sector growth was driven by aesthetics, surgical, and physiotherapy applications, with optical fibers exceeding 50% of medical service sales; industrial sector growth was led by cutting and marking, with strong performance in Brazil.

• Sale of the majority stake in Penta Laser Zhejiang generated €26.4 million, improving the net financial position.

• Gross margin improved to €188.3 million (44.6% of revenue), up from 43.6% year-over-year.

• Pre-tax income for the period was €52.2 million, a 14.8% decrease, mainly due to positive extraordinary items in 2024 and unfavorable FX trends in 2025.

Financial highlights

• Q3 2025 revenues were €136.6 million (+1.36% year-over-year); Q3 EBIT was €20.4 million (+3.8% year-over-year).

• EBITDA for the nine months was €65.6 million (15.6% margin), nearly flat year-over-year.

• Net financial position improved to €137.4 million at September 30, 2025, up €26.8 million year-to-date and €47.4 million in Q3.

• Capex for the nine months totaled €13.3 million, with an additional €3 million invested in insurance policies.

• Dividends distributed in May amounted to €18.6 million.

Outlook and guidance

• Management confirmed guidance for annual growth in both revenue and operating profit for 2025, supported by a solid order backlog and continued investment in R&D and innovation.

• Confident in meeting or exceeding 2024 revenue and EBIT targets, with a focus on achieving €23 million EBIT in Q4 2025.