Wulff-Yhtiöt (WUF1V) Q2 2025 earnings summary

Executive summary

• Q2 2025 net sales reached a record EUR 31.0 million, up 21.7% year-over-year, with strong growth in Worklife Services and a decline in Products for Work Environments.

• Operating profit (EBIT) for Q2 was EUR 1.2 million, stable year-over-year; H1 EBIT was EUR 1.5 million, slightly down from EUR 1.6 million.

• EPS for Q2 was EUR 0.07 (down from 0.15); H1 EPS was EUR 0.06 (down from 0.18).

• Worklife Services segment outperformed, with net sales more than doubling and operating profit surpassing the Products for Work Environments segment for the first time.

• New growth strategy targets EUR 230 million net sales and EUR 20 million comparable operating profit by 2030, focusing on service business expansion and acquisitions.

Financial highlights

• Q2 2025 net sales: EUR 31.0 million (+21.7%); H1 2025 net sales: EUR 58.2 million (+19.3%).

• Q2 EBITDA: EUR 1.9 million (6.0% margin); H1 EBITDA: EUR 2.8 million (4.9% margin).

• Q2 EBIT: EUR 1.2 million (3.9% margin); H1 EBIT: EUR 1.5 million (2.6% margin).

• Q2 EPS: EUR 0.07; H1 EPS: EUR 0.06.

• Equity ratio at period end: 36.1% (down from 39.4%).

Outlook and guidance

• 2025 guidance unchanged: net sales expected to increase, comparable operating profit to remain at a good level.

• Growth expected mainly in service businesses; key uncertainties include economic conditions, inflation, interest rates, and geopolitics.