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Antares Vision
Antares Vision (AV) investor relations material
Antares Vision Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary13 Feb, 2026
Executive summary
FY 2025 revenues were €204M, down 2% year-over-year, with a significant slowdown in 4Q, particularly in Life Science & Cosmetics and FMCG segments; results are in line with previous guidance.
Adjusted EBITDA margin was approximately 16%, at the lower end of guidance, reflecting maintained profitability despite revenue contraction.
Net Financial Position improved to €76M from €84M at year-end 2024, mainly due to operating cash flow generation, with a Net Financial Position/Adjusted EBITDA ratio of about 2.4x.
Orders grew 19% year-over-year, driven by a surge in Supply Chain Transparency (SCT) contracts, while equipment and services orders remained flat.
Financial highlights
FY 2025 revenues declined 2% year-over-year to €204.1M; Q4 revenues fell 11% year-over-year to €71.0M.
Recurring revenues (Services + SCT) grew 7% year-over-year in FY 2025 and 9% in 4Q, now representing 42% of total revenues, up from 39% in FY 2024.
Adjusted EBITDA margin held at ~16%.
Net Financial Position improved to €76M, with a ratio to Adjusted EBITDA of ~2.4x.
Outlook and guidance
FY 2025 preliminary results are in line with previous guidance.
Updated business plan projects a mid-single-digit revenue CAGR for 2025-2028, lower than the previous 7-9% CAGR target.
Adjusted EBITDA margin is expected to progressively improve, reaching 19-20% by 2028.
Net Financial Position/Adjusted EBITDA ratio is forecast to fall below 1x by year-end 2028.
FY 2025 results will be published on March 23, 2026.
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Next Antares Vision earnings date
Q1 20265 May, 2026
Antares Vision
Next Antares Vision earnings date
Q1 20265 May, 2026
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Frequently asked questions
Antares Vision S.p.A. provides inspection, traceability, and data management solutions for the pharmaceutical, healthcare, and other industries. The company specializes in automated quality control systems, serialization technologies, and supply chain transparency solutions to ensure product safety and regulatory compliance. Its technologies are used in packaging, manufacturing, and distribution processes across various sectors, including food and beverage, cosmetics, and consumer goods. The company is headquartered in Travagliato, Italy, and its shares are listed on the Euronext STAR Milan.
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