Wirtek (WIRTEK) Q2 2025 earnings summary

Executive summary

• Achieved positive EBITDA in Q2 2025 (DKK 0.3 million/TDKK 270), signaling a turnaround after a negative Q1, driven by cost optimization and new orders, especially from U.S. clients.

• Revenue in Q2 2025 was DKK 15.5 million/TDKK 15,469, down 8% year-over-year, but improved sequentially from Q1's 14% decline.

• Strategic review underway to align business model with long-term opportunities; conclusions to be shared in Q4 2025.

• Solutions division, built from recent acquisitions, contributed 4% of Q2 revenue and is positioned for future growth.

• Transformation continues, balancing cost discipline with investments in business development and new growth areas.

Financial highlights

• Q2 2025 revenue: DKK 15.5 million/TDKK 15,469, down 8% year-over-year; H1 2025 revenue: TDKK 31,006, down 11%.

• Q2 2025 EBITDA: DKK 0.3 million/TDKK 270, up from negative Q1; EBITDA margin at 1.7% for Q2.

• EPS: minus DKK 0.13 per share in Q2/H1 2025, reflecting continued negative net profits.

• Equity ratio remains strong at 44% despite negative net results and dividend payout.

• Liquidity ratio solid at 102%.

Outlook and guidance

• 2025 revenue guidance revised to DKK 64–69 million, down from DKK 70–75 million, reflecting slower recovery.

• EBITDA guidance for 2025 maintained at DKK 1–5 million, with further profitability improvements expected in H2.

• H2 expected to show revenue growth, with new orders' full impact carrying into next year.

• Full effect of cost measures expected from Q3, strengthening profitability.

• Continued selective investments in Services and Solutions to drive future growth.