Enersense International (ESENSE) Q4 2025 earnings summary

Executive summary

• Achieved a successful turnaround in 2025, focusing on core businesses in energy transmission, industrial energy transition, and telecommunications, with a growing order book and improved profitability in core operations.

• Strategic focusing completed, shifting to a lifecycle partner strategy and divesting non-core businesses, including wind and solar project development and Marine and Offshore Unit.

• The Value Uplift program exceeded expectations, generating a EUR 6.7 million annual EBIT/EBITDA run-rate improvement by year-end, with a new target of EUR 7.5 million by mid-2026.

• No dividend proposed for 2025.

Financial highlights

• Operating profit (EBIT) improved to EUR 16.4 million from a loss of EUR -14.1 million.

• EBITDA rose to EUR 25.3 million (from EUR 14.5 million), driven by one-time gains from divestments.

• Adjusted EBITDA for core businesses was EUR 18.8 million (6.2% margin), nearly flat year-over-year and within guidance.

• Equity ratio improved to 32.1% (from 12.7%), and net debt reduced to EUR 3.4 million.

• Earnings per share improved from EUR -1.83 to EUR 0.07.

Outlook and guidance

• 2026 adjusted EBITDA is guided at EUR 19–23 million, up from EUR 18.8 million in 2025.

• Value Uplift program provides confidence in meeting guidance, with some benefits reinvested for growth.

• Separate reporting of core business figures will be discontinued in 2026 as strategic focusing is completed.

• Interest rates are expected to decrease, with no repeat of 2025 one-off items.