Wirtek (WIRTEK) Q2 2025 earnings summary

Executive summary

• Achieved positive EBITDA of DKK 0.3 million (TDKK 270) in Q2 after a negative Q1, ahead of previous guidance for Q3 return to profitability.

• Revenue in Q2 was DKK 15.5 million (TDKK 15,469), down 8% year-over-year, but an improvement from Q1's 14% decline.

• Implemented significant cost optimization measures, resulting in improved profitability and operational efficiency.

• Multiple new orders signed in H1, especially from U.S. clients, driving a shift in regional revenue mix.

• Strategic review underway to align business model with long-term opportunities; conclusions to be shared in Q4 2025.

Financial highlights

• Q2 2025 revenue: DKK 15.5 million (TDKK 15,469), down 8% year-over-year; H1 2025 revenue: TDKK 31,006, down 11%.

• Q2 EBITDA: DKK 0.3 million (TDKK 270), up from negative DKK 1.1 million in Q1; EBITDA margin at 1.7% for Q2.

• EPS: minus DKK 0.13 per share in Q2; H1 2025 EPS: DKK -0.13.

• Equity ratio remains strong at 44% despite negative net results and dividend payout.

• Net cash holdings at end of H1 2025: TDKK -5,019, mainly due to dividend and earn-out payments.

Outlook and guidance

• Revenue guidance for 2025 revised down to DKK 64–69 million from previous DKK 70–75 million.

• EBITDA guidance for 2025 maintained at DKK 1–5 million, with further profitability improvements expected in H2.

• H2 expected to show revenue growth, with new orders' full impact carrying into next year.

• Full effect of cost measures expected from Q3, with profitability to strengthen in H2 2025.

• Continued selective investments in Services and Solutions to drive future growth.