Italy · Delayed Price · Currency is EUR Biesse Earnings Call Transcripts
Fiscal Year 2025
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Q3 2025 saw a 14% year-over-year sales decline, negative net result, and reduced order intake, with cost containment and restructuring underway. Management expects gradual improvement from Q4, supported by a streamlined cost base and selective hiring in 2026.
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Q1 2025 saw a sharp sales and profit decline, with a negative net result and lower EBITDA, driven by weak markets and aggressive Chinese competition. Order intake briefly rose in late March but is down year-to-date, and guidance was withdrawn amid ongoing restructuring and cost cuts.
Fiscal Year 2024
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Sales fell to €755 million in 2024, with net profit dropping to €3.8 million due to market normalization and the end of government incentives. The GMM acquisition helped offset declines, but no significant recovery is expected in 2025, with continued market uncertainty.
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Group sales and EBITDA declined year-over-year despite cost reductions, with stable backlog and positive net financial position. GMM acquisition contributed stability, while restructuring and efficiency initiatives continue amid challenging market conditions and client credit risks.
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Revenues and order intake declined year-over-year amid weak market conditions and high interest rates, but cost-saving initiatives and the GMM acquisition supported financial stability. The outlook for the second half is flat to slightly down, with a solid backlog and strong net financial position.