Teleste (TLT1V) Q4 2025 earnings summary

Executive summary

• Strong financial performance in 2025, with significant improvements in profitability, order intake, and both segments contributing to growth; Q4 was the strongest quarter despite some delivery delays in North America due to operator consolidation.

• Net sales and operating profit both increased, with full-year operating profit at the top end of guidance and positive operating cash flow for the fifth or sixth consecutive quarter.

• Dividend proposal increased to €0.08 per share, up from €0.03 last year, to be paid in two installments subject to AGM approval.

Financial highlights

• Net sales rose 4.6% to €138.6M; adjusted EBITDA increased 29.1% to €12.1M; adjusted operating profit up 69.7% to €7.1M.

• Full-year EPS improved to €0.15 from last year’s negative €0.32; net result for the year was €2.6M, reversing a €6.1M loss in 2024.

• Orders received grew 10.7% year-over-year to €138.2M; order backlog stable at €114.5M.

• Revenue split: 60% from Broadband Networks, 40% from Public Safety and Mobility; 25% of total revenue now comes from outside Europe, up from 15% last year.

• Adjusted operating profit: Broadband Networks €8.3M (up 32.9%), Public Safety and Mobility €3.4M (up 68.8%).

Outlook and guidance

• 2026 net sales expected at €140–160M; adjusted operating profit between €7–10M, with most profit expected in the second half due to North American operator consolidation effects.

• Material changes in the operating environment, such as geopolitical tensions and currency fluctuations, may create uncertainty.