Koncar D&ST (KODT) Q1 2025 earnings summary

Executive summary

• Achieved record growth in Q1 2025, with revenue, EBITDA, and net profit all posting double- or triple-digit year-over-year increases.

• Order intake reached EUR 416.3 million, with 78% from export markets; backlog rose to EUR 2.15 billion.

• All four strategic business areas saw revenue growth, led by Power Transmission and Distribution.

• Major deliveries in urban mobility, including new trams for Zagreb and Osijek, and diesel-electric trains for HŽ Putnički prijevoz.

• Maintained strong financial stability and resilience amid global economic and geopolitical challenges.

Financial highlights

• Consolidated sales revenue: EUR 306.1 million, up 45.8% year-over-year.

• EBITDA: EUR 69.5 million, up 99.4% year-over-year; EBITDA margin improved to 22.7%.

• Net profit: EUR 65.1 million, up 129.1% year-over-year; net margin increased to 21.3%.

• Operating profit (EBIT): EUR 63.0 million, up 110.2% year-over-year; operating margin at 20.6%.

• Earnings per share: EUR 17.25, up 183.2% year-over-year.

Outlook and guidance

• Backlog covers the full annual sales revenue plan, supporting continued growth.

• Book-to-bill ratio at 1.4, with foreign markets at 1.6, indicating sustained demand.

• Management expects further export growth, especially in EU, Norway, and Saudi Arabia.