JOST Werke (JST) Q3 2025 earnings summary

Executive summary

• Achieved strong and accelerated profitable growth in Q3 2025, with revenue up 55.6% to €383.2 million, driven by Hyva acquisition, organic expansion, and market share gains despite challenging markets.

• Hyva integration is progressing well, with synergies ramping up and cross-selling opportunities identified; annual cost synergies in EBIT expected to exceed €20 million by end of 2026.

• Diversification across industries, customers, and regions enhanced resilience and profitability, supported by a local-for-local approach and global reach.

• Organic growth was realized in all regions and business lines, supported by new contracts and expanded sales channels.

• Outlook for fiscal year 2025 confirmed, with expectations to finish at the lower to mid end of the range.

Financial highlights

• Q3 2025 consolidated revenue: €383.2 million (+55.6% YoY); 9M 2025: €1,147.6 million (+36.1% YoY); organic growth 9.7%-10%.

• Adjusted EBIT Q3 2025: €37.2 million (+40.3% YoY); margin 9.7% (9.9% at constant currency).

• Adjusted EPS Q3 2025: €1.11 (+13.6% YoY); adjusted net income for 9M 2025: €63 million; adjusted EPS 9M: €4.17.

• Free cash flow Q3 2025: €55.7 million (+144.4% YoY); 9M 2025: €105 million.

• Net debt (excl. IFRS 16): €446.6 million; leverage ratio at 2.44x, below year-end target.

Outlook and guidance

• Full-year 2025 revenue expected to increase by 40–50% over 2024, mainly from Hyva integration.

• Adjusted EBIT and EBITDA for 2025 forecasted to grow by 23–28% year-over-year.

• CapEx expected around 2.9% of sales; working capital below 18.5% of sales; leverage ratio to remain below 2.5x.

• Guidance confirmed, with expectations to finish at the lower to mid end of the range.

• Market demand in EMEA expected to stabilize or grow slightly; US demand to remain weak due to tariffs; APAC to see moderate growth.