Consti (CONSTI) Q2 2025 earnings summary

Executive summary

• Net sales grew 2.3% in Q2 2025 and 1.3% in H1 2025 year-over-year, driven by strong performance in Housing Companies, while other business areas declined.

• Order backlog increased 5.9% year-over-year to EUR 276.7m, with order intake up 15.8% in Q2.

• Financial and liquidity positions remained strong despite a challenging market.

• Operating profit (EBIT) declined to EUR 2.5m in Q2 and EUR 2.3m in H1, impacted by weak Service business and increased tendering costs.

• Intense competition and weak demand outlook due to economic uncertainty and high costs.

Financial highlights

• Q2 2025 net sales EUR 84.8m (+2.3% y-o-y); H1 2025 net sales EUR 150.4m (+1.3%).

• Q2 2025 EBIT EUR 2.5m (2.9% margin); H1 2025 EBIT EUR 2.3m (1.6% margin), both lower year-over-year.

• Q2 2025 free cash flow EUR 2.9m; H1 2025 free cash flow EUR 2.4m.

• Q2 2025 net debt EUR 3.8m; equity ratio 40.4%; gearing 9.0%.

• Q2 2025 profit EUR 1.8m (-16.2% y-o-y); H1 2025 profit EUR 1.5m (-28.5% y-o-y).

Outlook and guidance

• Operating result for 2025 estimated at EUR 9–12m.

• No significant improvement expected in construction demand for H2 2025; focus remains on strategy execution and leveraging strong order backlog.

• Focus remains on solid performance, supported by a strong order backlog.