Landi Renzo (LNDR) Q4 2025 earnings summary

Executive summary

• Consolidated revenue for 2025 was €251.3 million, down from €272.4 million in 2024, reflecting ongoing market challenges.

• EBITDA improved to €8.8 million in 2025 from a negative €4.4 million in 2024, driven by Clean Tech Solutions recovery and margin improvements in Green Transportation.

• Net loss narrowed to €20.9 million in 2025 from €67.0 million in 2024, aided by lower impairment losses and restructuring efforts.

• Major restructuring included the integration of Green Transportation with Westport Fuel Systems Italia and the merger of Metatron into Landi Renzo.

Financial highlights

• 2025 consolidated adjusted EBITDA was €7.7 million, up from a negative €1.0 million in 2024.

• Net financial position at year-end 2025 was €97.7 million, slightly higher than €94.5 million in 2024.

• EBIT loss reduced to €11.8 million in 2025 from €53.9 million in 2024, with depreciation and impairment losses dropping to €20.6 million from €49.4 million.

• Financial expenses decreased to €10.6 million in 2025 from €12.5 million in 2024.

Outlook and guidance

• The 2026-2030 Business Plan aims for economic and financial rebalancing, focusing on Clean Tech Solutions as the main growth driver.

• Industrial integration with Westport Fuel Systems Italia is expected to reshape the business scope and enhance value.

• Operational performance is projected to improve in 2026, supported by demand trends and efficiency measures.