FOM Technologies (FOM) H1 2025 earnings summary

Executive summary

• H1 2025 marked the most challenging period since founding, with significant global and geopolitical uncertainty impacting sales and earnings.

• Order flow stalled, investment decisions delayed, and lead-times extended, but inquiry levels increased year-over-year.

• Cost-cutting measures included staff reductions and a 20% pay cut for management and board.

• Product launches for 2025 remain on schedule, with the largest portfolio to date expected in H2.

• Financial guidance for 2025 was reinstated after being suspended in April, as order intake improved at the start of H2.

Financial highlights

• Total income for H1 2025 was tDKK 16,435, down 26% from H1 2024.

• EBITDA for H1 2025 was tDKK -13,200, a 55% decline from H1 2024.

• Net cash flow for H1 2025 was tDKK -19,948, compared to tDKK -9,395 in H1 2024.

• Equity at H1 2025 was tDKK 47,528, down 25% from AR 2024.

• Cash and cash equivalents at H1 2025 were mDKK 18.1, compared to mDKK 38.1 in H1 2024.

Outlook and guidance

• Financial guidance for 2025: total income mDKK 40–50, EBITDA mDKK -25 to -15.

• Previous guidance (suspended in April): total income mDKK 40–60, EBITDA mDKK -15 to -5.

• Improved order intake and normalization of lead-times seen at the start of H2 2025.

• Recent US-EU trade agreement expected to support a return of customer investment decisions.

• Exploring capital raise opportunities in H2 2025 to maintain a strong capital structure.