Tekova (TEKOVA) Q1 2025 earnings summary

Executive summary

• Revenue grew 54.4% year-over-year to €23.7 million in Q1 2025, driven by the completion of seven projects despite challenging market conditions.

• EBIT increased 82% year-over-year to €2.6 million, with an EBIT margin of 11.0% compared to 9.4% last year.

• Order backlog reached €67 million at the end of Q1 2025, up 59% from €43 million a year earlier, supported by the largest contract in company history for a data center expansion.

• Net profit rose 88% to €2.0 million, and EPS improved to €0.046 from €0.026.

• Workforce grew to 61 employees, reflecting business expansion.

Financial highlights

• Revenue: €23.7M (Q1 2025) vs. €15.4M (Q1 2024), +54.4% year-over-year.

• EBIT: €2.6M (Q1 2025) vs. €1.4M (Q1 2024), EBIT margin 11.0% (up from 9.4%).

• Net profit: €2.0M (Q1 2025) vs. €1.1M (Q1 2024), net margin 8.5% (up from 7.0%).

• Cash at period end: €15.0M; company remains net debt free.

• Operating cash flow was -€1.7 million, a slight improvement from -€1.9 million last year.

Outlook and guidance

• Updated 2025 guidance: revenue expected between €80–100 million and EBIT between €7.0–10.0 million, up from previous guidance of €70–90 million in revenue and €5.5–7.5 million in EBIT.

• Outlook based on strong order backlog and ongoing project negotiations.

• Guidance reflects assessment of market environment and project pipeline.