Forsee Power (FORSE) Q1 2025 earnings summary

Executive summary

• Revised 2025 financial targets due to market uncertainty and project delays, especially in North America.

• First quarter 2025 revenue rebounded above the average of the previous three quarters; second quarter expected to increase further.

Financial highlights

• Adjusted EBITDA for H1 2025 projected to rise year-over-year, driven by solid margins and cost control.

• Full-year 2025 performance will depend on year-end sales volumes, with Q4 revenue likely impacted by order delays.

Outlook and guidance

• 2025 financial targets withdrawn; updated guidance to be provided with half-year results in September.

• Strong commercial momentum and customer diversification expected to benefit 2026 revenues.