Novem Group (NVM) Q3 2025 earnings summary

Executive summary

• Revenue for the first nine months of 2024/25 declined by 16.9% year-over-year to €403.5 million, with both Series and Tooling segments underperforming prior year levels.

• Q3 2024/25 revenue was €124.0m, down 10.6% year-over-year, impacted by extended customer plant holidays and weak demand.

• Adj. EBIT dropped 33.7% to €36.2 million, with margin falling to 9.0% due to poor cost coverage and lower sales.

• Cost control, restructuring, and customer compensation payments partially offset the revenue decline.

• New business wins include nominations for the Audi Q8 e-tron and Jaguar Panthera EV platforms.

Financial highlights

• Q3 2024/25 revenue: €124.0m (down from €138.7m in Q3 2023/24); YTD revenue: €403.5m (down from €485.8m).

• Adj. EBIT: €10.0m in Q3 (down from €16.6m), margin at 8.1% (down from 12.0%); YTD Adj. EBIT: €36.2m (down from €54.6m).

• Adj. EBITDA for nine months: €60.2m (margin 14.9%), down from €79.3m (margin 16.3%).

• Profit for the period was €8.8m, down from €31.4m; earnings per share dropped to €0.21 from €0.73.

• Free cash flow improved to €1.3m in Q3 but was €1.9m YTD, down from €29.6m prior year.

Outlook and guidance

• Recovery is no longer anticipated in the medium term; mid-term Adj. EBIT margin guidance adjusted to 11-12%.

• No material subsequent events or changes to risk outlook since the balance sheet date.