Nabaltec (NTG) Q4 2025 earnings summary

Executive summary

• Revenue for FY2025 was EUR 197.99 million, down 3.2% year-over-year, with EBIT at EUR 15.2 million and an EBIT margin of 7.7%; net income dropped 34.7% to EUR 9.08 million.

• Q4 2025 revenue was EUR 41.9 million, a 7.7% decline from the prior year, and EBIT dropped 78.3% to EUR 1.2 million; Q4 EPS was EUR 0.05, down 86.1%.

• Q1 2026 preliminary revenue was EUR 53.2 million, down 2.7% year-over-year, but improved over Q4 2025.

• The export ratio remained high at 76.7%.

• Dividend of EUR 0.29 per share proposed, with the majority of profits carried forward.

Financial highlights

• Gross profit for 2025 was EUR 103.6 million, with margin improvement to 52.5% due to lower material costs.

• EBITDA for 2025 was EUR 26.8 million, down 21.7% year-over-year; EBITDA margin was 13.6%.

• Net income for 2025 was EUR 9.08 million, a 34.7% decrease year-over-year.

• Net debt at year-end 2025 was EUR 18.5 million, up from EUR 4.3 million in 2024.

• Cash and cash equivalents at year-end 2025 were EUR 72.3 million, down 16.4% from the previous year.

Outlook and guidance

• 2026 revenue growth expected in the range of 4%-6%, with EBIT margin guidance of 5%-7%.

• Lower EBIT margin in 2026 is anticipated due to higher raw material and energy costs, and increased depreciation.

• Market conditions in 2026 are expected to remain volatile, with risks from inflation, high interest rates, and geopolitical tensions.

• Order intake remains short-term and volatile, but customer feedback is optimistic for H2 2026.

• Capital expenditures set to rise in 2026, focusing on capacity expansion and digitalization.