Grupo Ezentis (EZE) Q4 2025 earnings summary

Executive summary

• Achieved 146% year-over-year revenue growth to €34.4M, driven by acquisitions of EDA and Elías Equipamientos and business expansion.

• EBITDA improved by €2.9M, turning positive to €1.0M, reflecting operational efficiencies, cost optimization, and expanded consolidation scope.

• Pro forma results, including full-year contributions from acquisitions, show revenues of €42.3M (+203%) and EBITDA of €2.2M.

• Net financial debt reached €6.6M, aligned with inorganic growth strategy.

• The group consolidated its presence across integrated installations, communications networks, and technological solutions, winning new contracts worth over €32M.

Financial highlights

• Revenue rose from €14.0M in 2024 to €34.4M in 2025.

• Net equity improved to €5.4M from -€3.6M, supported by capital increases and convertible loans.

• Pro forma EBITDA improved by €4.1M year-over-year, reflecting normalized operating profitability.

• Net financial debt stood at €6.6M, mainly due to acquisition financing.

• Net result attributable: -€3.2M, compared to -€1.7M normalized in 2024.

Outlook and guidance

• Strategic plan 2025-2028 targets growth in integrated installations, communications networks, and technological solutions, aiming to double revenues and triple EBITDA by 2028.

• Growth model combines organic expansion and selective acquisitions.

• Pro forma 2025 revenues exceeded the €36M target, while EBITDA of €2.2M was below the €3M goal.

• An updated strategic plan will be presented in the first half of March 2026.