Viscom (V6C) Q3 2025 earnings summary

Executive summary

• Order intake increased by 8.8% to €63.2M for the first nine months of 2025, while revenue declined by 10.2% to €56.8M, mainly due to subdued demand in the automotive sector.

• EBIT improved to -€1.8M from -€5.9M, with an EBIT margin of -3.1%, reflecting cost-cutting and restructuring benefits.

• Net loss narrowed to -€2.3M from -€5.0M year-over-year; earnings per share improved to €-0.25 from €-0.57.

• Cost pressures from materials and exchange rates persisted, but personnel and other operating expenses declined.

• The company expects a strong Q4 and maintains full-year guidance for revenue of €80–90M and EBIT margin of 2–5%.

Financial highlights

• Order backlog as of September 30, 2025, rose 10.6% to €26.4M.

• Personnel expenses decreased by 15.8% to €26.3M, reflecting restructuring and workforce adjustments.

• Cash and cash equivalents at September 30, 2025, were €4.4M, up from €4.0M a year earlier.

• Cash flow from operating activities turned negative at -€2.2M, down from €17.4M in the prior year due to increased receivables.

• Equity ratio was 50.8% (prior year: 54.0%).

Outlook and guidance

• Full-year 2025 guidance: order intake and revenue expected between €80M and €90M, with EBIT forecasted between €1.6M and €4.5M and an EBIT margin of 2% to 5%.

• Anticipates a strong Q4, with growth expected to resume in 2026.

• Liquidity for 2025 secured through own funds and available credit lines.

• Focus on AI-driven inspection solutions and new software for faster test program creation.