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Ebusco Holding (EBUS) investor relations material
Ebusco Holding H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue rose to €76.6 million in 2025 from €10.7 million in 2024, driven by improved deliveries, especially in the second half, and initial traction in energy storage solutions.
Operating loss narrowed to €64.6 million from €196.4 million in 2024, reflecting benefits from the shift to the OED (Original Equipment Design) model and cost reductions.
Workforce was reduced by 46% to 282 FTEs by year-end 2025 as part of a turnaround plan.
Significant refinancing and debt-for-equity swaps increased share count from 65.5 million to 203.5 million.
Financial highlights
Gross profit turned positive at €8.0 million in 2025, up from a €34.6 million loss in 2024.
EBITDA was negative €56.4 million, an improvement from negative €132.6 million in 2024.
Net loss for 2025 was €71.0 million, compared to €200.6 million in 2024.
Free cash flow improved to negative €30.8 million from negative €61.1 million in 2024.
Net debt (excluding leases) decreased to €14.9 million from €20.8 million.
Equity fell to €3.3 million at year-end 2025, mainly due to the net loss, partially offset by share capital increases.
Outlook and guidance
Priorities for 2026 include strengthening the financial position, optimizing the OED production model, improving after-sales, and expanding the Energy Storage Solutions business.
Management expects all buses in the year-end orderbook to be delivered in 2026.
Liquidity remains constrained; ongoing access to funding and working capital facilities is critical for continuity.
- Revenue fell to €38m and net loss deepened to €64.7m as delays and penalties hit results.EBUS
H1 20242 Feb 2026 - Severe losses and liquidity crisis in 2024 force urgent restructuring and refinancing.EBUS
Q4 202425 Nov 2025 - Stable Q3 deliveries, strong order book, and major cost reductions drive operational turnaround.EBUS
Q3 2025 TU15 Oct 2025 - Turnaround progresses with improved losses, accelerated deliveries, and urgent liquidity needs.EBUS
H1 202518 Aug 2025 - Strategic turnaround and innovation position the company for growth in Europe's electric bus market.EBUS
Investor Presentation27 Jun 2025 - Turnaround plan, cost cuts, and €36m rights issue address halted production and cash crisis.EBUS
Q3 2024 TU13 Jun 2025
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