Hove (HOVE) Q3 2025 earnings summary

Executive summary

• Q3 2025 revenue reached DKK 57.0 million, up 28% year-over-year, with YTD revenue at DKK 165.3 million, a 27% increase driven by strong wind turbine segment sales.

• Gross profit for the first nine months rose to DKK 57.2 million, but gross margin declined to 34.6% from 38.3% due to a higher share of private label sales.

• EBITDA for Q1–Q3 2025 was DKK 20.6 million, up 45% year-over-year, with an improved EBITDA margin of 12.4%.

• Net profit for Q1–Q3 2025 was DKK 13.4 million, a 32% increase compared to the same period last year.

• US and India subsidiaries delivered positive cash flow, while Turkey was impacted by seasonal fluctuations; Brazil liquidation is on track for completion by year-end.

Financial highlights

• Revenue for Q1–Q3 2025: DKK 165.3 million (Q1–Q3 2024: DKK 130.3 million).

• Gross profit: DKK 57.2 million (Q1–Q3 2024: DKK 50.0 million).

• EBITDA: DKK 20.6 million (Q1–Q3 2024: DKK 14.2 million).

• EBIT: DKK 19.0 million (Q1–Q3 2024: DKK 13.1 million).

• Net profit: DKK 13.4 million (Q1–Q3 2024: DKK 10.1 million).

Outlook and guidance

• Upgraded 2025 revenue guidance to DKK 200–210 million (previously DKK 180–200 million).

• Upgraded 2025 EBITDA guidance to DKK 21–24 million (previously DKK 15–20 million).