IBU-tec advanced materials (IBU) H1 2025 earnings summary

Executive summary

• Revenues for HY1 2025 declined 24% year-over-year to €18.96 million, mainly due to lower sales in Specialty Chemicals and Glass Coating, while Battery Material revenues nearly doubled.

• EBITDA rose sharply to €1.97 million (up from €0.15 million), with the margin improving to 10.4% from 0.6% year-over-year.

• Net loss narrowed significantly to €-0.62 million from €-3.15 million, reflecting improved profitability and cost reductions.

• Major strategic progress in the battery segment, including a €6 million order from PowerCo SE (Volkswagen Group) and a development partnership with Wanhua Chemical Group.

• BNT Chemicals restructuring led to a return to profitability and substantial cost savings.

Financial highlights

• Revenue: €18.96 million (HY1 2025), down 24% year-over-year.

• EBITDA: €1.97 million, up from €0.15 million; EBITDA margin 10.4%.

• EBIT: €-0.21 million, improved from €-2.32 million.

• Net result: €-0.62 million, improved from €-3.15 million.

• Earnings per share: €-0.13, up from €-0.66.

• Cash flow from operating activities: €0.23 million.

• Free cash flow: €0.16 million.

• Equity ratio: 73.5%, up from 69.4%.

Outlook and guidance

• Full-year 2025 revenue expected at €43–45 million, with EBITDA margin forecasted at 7–9%.

• Battery segment anticipated to contribute around 25% of annual revenues.

• Ongoing strong order momentum in battery materials, with incoming orders by mid-2025 already matching the full year 2024.