First Sensor (SIS) Q2 2025 earnings summary

Executive summary

• Sales for the first half of 2025 were €52.3 million, down 12.4% year-over-year, with the decline most pronounced in Q2; incoming orders improved in Q2, supporting a confirmed full-year sales guidance of €110–120 million.

• The economic environment remains challenging due to global trade tensions, inflation risks, and geopolitical uncertainties, but management remains focused on profitable growth and productivity improvements.

• Investments in H1 totaled €2.4 million, with the full-year target of €5–7 million expected to be met as more projects are implemented in H2.

Financial highlights

• H1 2025 sales: €52.3 million (down 12.4% year-over-year); Q1 sales: €28.6 million, Q2 sales: €23.7 million.

• Gross profit increased 2.2% to €37.2 million despite lower sales, driven by reduced material costs; gross margin improved as cost of materials ratio fell to 38.1%.

• EBITDA was stable at €8.7 million (margin: 16.6%), EBIT rose to €5.3 million (margin: 10.1%), and net profit was €5.3 million (EPS: €0.51, down from €0.52).

• Operating cash flow turned positive at €14.5 million (prior year: -€1.0 million), mainly due to inventory buildup; free cash flow was €0.8 million.

• Equity increased slightly to €119.0 million (equity ratio: 81.3%), net cash position at €27.0 million, down €2.6 million since September 2024 due to profit transfer to TE Connectivity.

Outlook and guidance

• Full-year 2025 sales expected between €110 million and €120 million, with recovery anticipated in H2 based on improved order intake.

• Investment volume for 2025 forecast at €5–7 million, with higher spending planned for H2.

• Working capital and liquidity expected to remain stable, supported by TE Connectivity resources.