Solteq (SOLTEQ) Q2 2025 earnings summary

Executive summary

• Revenue for H1 2025 decreased by 10.0% year-over-year to EUR 24.3 million, with a comparable revenue decline of 6.4%.

• Profitability improved: comparable operating result was EUR 0.2 million (up from -0.4 million), and EPS was EUR -0.02 (improved from -0.06).

• Retail & Commerce segment showed strong profitability gains, while Utilities segment underperformed due to consulting business losses.

• Equity ratio improved to 30.8% from 29.8% year-over-year.

Financial highlights

• Q2 2025 revenue was EUR 12.2 million, down 9.3% year-over-year; comparable revenue down 5.6%.

• Q2 comparable EBITDA was EUR 0.4 million (down 22.9%), and comparable operating result was EUR 0.1 million (up from -0.1 million).

• H1 2025 comparable EBITDA was EUR 1.0 million (up 17.5%), and comparable operating result was EUR 0.2 million (up from -0.4 million).

• Net cash flow from operating activities was EUR -0.4 million (down from EUR 1.2 million in H1 2024).

Outlook and guidance

• Comparable revenue is expected to decrease slightly for 2025, but comparable operating result is forecast to improve significantly.

• Management expects financial performance to strengthen in H2 2025, with moderate outlook for Retail & Commerce and stable outlook for Utilities.