Bertrandt (BDT) Q3 25/26 earnings summary

Executive summary

• Revenues for the first nine months of fiscal 2025/2026 declined 9.5% year-over-year to €671.6m, reflecting challenging macroeconomic and industry conditions.

• EBIT improved to €-28.9m from €-38.9m year-over-year, driven by cost savings from the F³/'Fit for Future' program.

• Market environment remains challenging due to geopolitical tensions, weak car sales in China, protectionism, and a sluggish German economy.

• Workforce reduced by 1,135 employees year-over-year, reflecting capacity adjustments.

Financial highlights

• 9M 2025/2026 sales: €671.6m, down 9.5% year-over-year.

• EBIT for 9M: €-28.9m, improved from €-38.9m in the prior year.

• Operating cash flow: €23.2m, up 2% year-over-year.

• Q3 sales: €215m, down 5% year-over-year and 3% sequentially; Q3 EBIT: €-15.8m, improved from €-24.6m.

• EPS for Q3: €-1.89, improved from €-2.87 year-over-year.

Outlook and guidance

• FY 2025/2026 revenues expected to be moderately down year-over-year, with a revised forecast of up to -10%.

• EBIT and operating cash flow forecasted to be significantly up year-over-year, but EBIT outlook revised to reflect uncertainty regarding positive earnings.

• Growth outlook remains subdued due to weak economic sentiment and external risks, but higher order intake and customer engagement are positive signs.