Lumibird (LBIRD) H2 2025 earnings summary

Executive summary

• Revenue reached €225.6 million, up 8.9% year-over-year, with both Photonics (+14%) and Medical (+4%) divisions contributing to growth.

• EBITDA rose 38% to €45.6 million, representing 20.2% of revenue.

• Net income more than doubled to €14.0 million (+146% year-over-year), reflecting strong operational leverage and cost control.

• The group maintained robust performance despite a complex environment, driven by innovation and market expansion.

Financial highlights

• Gross margin improved to 63.5% (+1.8 p.p.), driven by favorable product mix and direct sales.

• EBITDA margin increased to 20.2% (vs. 15.9% in 2024).

• Free cash flow was €13.1 million; cash flow from operations was €29.0 million.

• Net financial debt reduced to €84.6 million, with a leverage ratio of 1.9x.

• Operating profit doubled to €23.8 million; profit from recurring operations up 71.7% to €25.7 million.

Outlook and guidance

• Continued growth and improved profitability expected, led by Defense/Space and Medtech, with Medical division accelerating.

• Action plan to optimize working capital, including inventory reduction and improved payment terms.

• Proposal for a one-off dividend of €0.37 per share to reward shareholders.

• Cautions on potential geopolitical risks, particularly from Middle East conflicts.