Nabaltec (NTG) Q2 2025 earnings summary

Executive summary

• Q2 2025 revenue declined by 4.7% year-over-year to EUR 51.8 million, with EBIT down 18.9% to EUR 4.7 million and EPS falling 23.9% to EUR 0.35.

• First half 2025 revenues were EUR 106.5 million, down 1.7% year-over-year, with a gross profit margin improvement to 52.4%.

• EBIT for H1 2025 was EUR 8.9 million, down 18.5% year-over-year, with an EBIT margin of 8.4%, within the forecasted range of 7–9%.

• Net debt turned slightly negative at EUR -0.4 million as of June 30, 2025.

• The company maintains a strong financial position with an equity ratio of 50.2% and cash and cash equivalents of EUR 90.9 million.

Financial highlights

• EBITDA for H1 2025 was EUR 14.6 million, margin 13.7%, down from 15.4% the previous year.

• Net income for H1 2025 was EUR 5.9 million, a 21.4% decrease year-over-year; EPS was EUR 0.67, down from EUR 0.85.

• Cash flow from operating activities in H1 2025 was EUR 20.5 million, down 15.1% year-over-year; free cash flow was EUR 9.5 million.

• Total assets increased 2.3% to EUR 305.3 million compared to year-end 2024.

• Export ratio reached 77.5% in H1 2025.

Outlook and guidance

• Full-year 2025 revenue is now expected to decline by up to 2% versus the previous year, revised from an initial forecast of 3–5% growth.

• EBIT margin guidance for 2025 remains at 7–9%, despite expected higher energy, personnel, and depreciation costs.

• Forecast assumes stable economic and industry conditions, but notes risks from inflation, trade barriers, and geopolitical uncertainty.