Voltatron (VOTR) Q2 2025 earnings summary

Executive summary

• Completed restructuring phase and shifted focus to buy-and-build strategy, including acquisition of EKM Elektronik GmbH and planned acquisition of GMS Electronic Vertriebs GmbH.

• Group revenue for H1 2025 reached €10.9 million, with €9.2 million from continuing operations; EBITDA from continuing operations was €0.5 million.

• Discontinued operations, including the sale of the high-voltage battery business, contributed significant one-off effects to earnings.

• Company rebranding to Voltatron AG, relocation of registered office, and expansion of business purpose approved.

Financial highlights

• Group EBITDA improved to €3.0 million in H1 2025 (prior year: €-1.5 million), with a margin of 27.8%.

• Earnings before taxes (EBT) reached €1.8 million (prior year: €-1.7 million); EBT from continuing operations was €-0.7 million.

• Earnings per share rose to €0.07 (prior year: €-0.04).

• Free cash flow stood at €2.0 million; cash and cash equivalents at €9.8 million.

• Economic equity (including subordinated loans) amounted to €25.4 million.

Outlook and guidance

• Revenue guidance for 2025 raised to €23–26 million (previously €15–20 million) due to GMS acquisition; EBITDA expected at €1.0–1.5 million (previously €0–1.0 million).

• One-off positive earnings effect of €2.5 million expected from discontinued operations (sale of high-voltage battery business).

• Macroeconomic environment remains subdued, but gradual stabilization and selective growth in electronics segments anticipated in H2 2025.