Teleste (TLT1V) Q2 2025 earnings summary

Executive summary

• Orders received and net sales increased in H1 2025, with significant profit improvement year-over-year.

• Both business segments contributed to growth, with Broadband Networks leading in North America and Public Safety and Mobility showing strong rail business orders.

• Strategic focus on DOCSIS 4.0 technology and expansion in public transport information systems.

• Adjusted EBIT and EBITDA improved substantially, reflecting higher sales, better gross margin, and cost savings.

• Long-term targets set for 10% average annual revenue growth and 7–12% adjusted EBIT margin by 2030.

Financial highlights

• Net sales for Q2 2025 rose 21.5% to €35.9M; H1 2025 net sales up 2.9% to €68.0M year-over-year.

• Adjusted EBITDA for Q2 2025 increased 116% to €3.4M; H1 2025 up 31.7% to €6.1M.

• Adjusted EBIT for Q2 2025 was €2.2M (up 384.4%); H1 2025 at €3.6M (up 81.2%).

• Orders received in H1 2025 grew 33.7% to €76.5M; order backlog at period end €126.8M (+8.3%).

• Cash flow from operations in H1 2025 was €6.4M, slightly down from €7.1M in H1 2024.

Outlook and guidance

• 2025 revenue expected between €135–150M; adjusted operating profit forecasted at €4–7M.

• North American DOCSIS 4.0 investments expected to drive demand, but US tariffs create short-term uncertainty.

• Long-term targets: 10% average annual revenue growth and 7–12% adjusted EBIT margin by 2030.