Esprinet (PRT) Q3 2025 earnings summary

Executive summary

• Achieved solid growth in Q3 and 9M 2025, with revenue, gross profit, and EBITDA Adjusted all increasing, driven by strong performance in Spain, Portugal, and green tech, while Italy remained flat.

• Net debt reduced by nearly €60 million year-over-year, reflecting strong working capital management and improved net financial position to -€287.2 million.

• Solutions & Services and green tech (Celiatech/Zeliatech) segments outperformed, with green tech rebounding after product shortages and expanding into Benelux and Ireland.

• Operating costs rose 6% for 9M-25, but their impact on sales decreased quarter by quarter.

• Net income for 9M 2025 was €6.2 million, slightly down due to higher tax burden.

Financial highlights

• 9M-25 sales grew 4% YoY to €2,893.3 million; Q3-25 sales up 3% YoY to €961.8 million.

• Gross profit for 9M-25 rose 5% YoY to €161.7 million, with a margin of 5.59%.

• EBITDA Adjusted for 9M-25 was €37.3 million (+3% YoY); Q3-25 EBITDA Adjusted was €12.1 million (+4% YoY).

• Pre-tax profit up 16% for nine months and 5% in Q3; net income declined due to higher tax burden.

• Net financial position improved by nearly €60 million YoY, driven by working capital management.

Outlook and guidance

• Full-year 2025 EBITDA Adjusted guidance reaffirmed at the upper end of €63–71 million, supported by strong 9M-25 results and sector analyst forecasts.

• Focus remains on high-margin Solutions & Services, green tech expansion, and leveraging the PC refresh cycle.

• Continued optimization of cost structure and working capital to support sustainable growth and debt reduction.