CAF (CAF) Q4 2025 earnings summary

Executive summary

• Achieved all 2025 targets across key metrics, including revenue, EBIT, net profit, and sustainability goals.

• Record order intake and all-time high order backlog, with strong growth in both rail and bus segments.

• Significant strategic milestones: largest contract in company history (SNCB Belgium), major metro and bus projects in Europe and North America.

• Entered final year of strategic plan with positive outlook and continued growth momentum.

Financial highlights

• Revenue rose 7% year-over-year to €4,487m; EBIT up 14% to €246m; EBIT margin improved to 5.5%.

• Net attributable profit surged 42% to €146m; EPS reached €4.27.

• Book-to-bill ratio at 1.3x; order backlog hit €16,235m (+10% vs. prior year).

• Cash flow generation of €88m; net financial debt reduced to €188m (NFD/EBITDA 0.5x).

• Dividend per share proposed at €1.52 (+14% vs. 2024).

Outlook and guidance

• 2026 forecast: high single-digit revenue growth, improved profitability, and stable NFD/EBITDA.

• Continued focus on selective order intake and emission reductions.

• Strategic plan targets to be met ahead of schedule, with strong positioning for next cycle (2027–2030).