Viscom (V6C) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 increased by 6.2% year-over-year to €19.8 million, with incoming orders up 9.4% to €20.4 million.

• EBIT turned positive at €24 thousand (0.1% margin) versus €-2.4 million (-12.8%) last year, driven by higher operating performance and lower personnel expenses.

• Net loss for the period narrowed to €-335 thousand from €-1.95 million year-over-year; EPS improved to €-0.03 from €-0.22.

• Order backlog declined 29.1% year-over-year to €20.5 million but was slightly above year-end 2024.

• Workforce reduced by 122 to 475 employees, mainly in Europe and Asia.

Financial highlights

• Cash flow from operating activities was negative at €-2.38 million, down from €9.1 million in Q1 2024, mainly due to changes in inventories and receivables.

• Cash and cash equivalents stood at €3.63 million, down from €4.12 million year-over-year and €5.53 million at year-end 2024.

• Equity ratio remained strong at 52.5% (52.0% in Q1 2024), with total equity at €49.96 million.

• Investments totaled €837 thousand, mainly in capitalized development costs.

• Net debt (liabilities less cash and receivables) was €-10.2 million, similar to year-end 2024.

Outlook and guidance

• 2025 revenue guidance maintained at €80–90 million, with expected EBIT margin of 2–5% (€1.6–4.5 million EBIT).

• Management remains cautiously optimistic for 2025, expecting growth to resume in 2026.

• Liquidity for 2025 expected to be secured from own funds and available credit lines.