Racing Force (RFG) Q3 2025 TU earnings summary

Executive summary

• Revenues grew 20% in Q3 2025 and 8.6% in the first nine months, reaching €55.2 million, with strong market appreciation for new product innovations and solid brand positioning.

• Order intake for the first nine months showed a significant double-digit increase, aligning with forecasts.

• The first deliveries of helmets for Dutch police forces are expected in Q4, marking a milestone in diversification.

Financial highlights

• Q3 2025 revenues were €15.9 million, up 19.9% year-over-year; nine-month revenues up 8.6% to €55.2 million.

• At constant exchange rates, Q3 revenue growth was 21.3% and nine-month growth was 9.2%.

• Like-for-like Q3 growth (excluding new JV) was 16.9%; nine-month like-for-like growth was 7.8%.

Segment performance

• Driver's Equipment sales rose €4.3 million (+11.3%) in nine months, with Q3 up 21.9%, driven by OMP racewear and Bell helmets.

• Car Parts revenues fell €1.0 million (-9.7%) due to temporary delivery shifts, with all programs confirmed.

• Other segment up €1.1 million (+38.9%) in nine months, led by Racing Spirit teamwear and new JV contributions.

• EMEA sales up €3.5 million (+10.5%) in nine months; Q3 up 22.3%.

• Americas sales up €0.8 million (+7.0%) in nine months, mainly from OMP racewear.

• APAC Q3 sales up 29.5%, closing the gap from H1 due to strong performance in China.

• Dealer channel sales up €0.2 million (+0.5%) in nine months; Q3 up €1.0 million (+11.6%).

• Teams & Car Manufacturers sales up €1.6 million (+12.3%) in nine months; Q3 up €0.4 million (+11.1%).

• Other customers up €2.6 million (+39.8%) in nine months, driven by Racing Spirit and JV contributions.