Kreate Group (KREATE) Q2 2025 earnings summary

Executive summary

• Order backlog increased 40% year-over-year to EUR 281 million, with EUR 169 million expected to be realized in 2025 and three consecutive quarters of growth.

• Q2 2025 revenue rose 8.1% to EUR 73.5 million; H1 2025 revenue up 2.9% to EUR 125.9 million.

• EBITA margin declined to 3.0% in Q2 2025 (from 3.8% last year) due to growth investments.

• Free cash flow from operating activities improved significantly, totaling EUR 15.3 million in H1 2025.

• Personnel increased to 605 at period end, reflecting investments in future growth and project expertise.

Financial highlights

• Q2 2025 EBITA was EUR 2.2 million, down from EUR 2.6 million year-over-year.

• EBITDA margin for Q2 2025 was 5.4%, slightly lower than 5.9% a year earlier.

• Net working capital at end of June 2025 was EUR -10.7 million, a significant improvement.

• Interest-bearing net debt decreased to EUR 19.0 million from EUR 31.7 million a year ago.

• Earnings per share (diluted) for Q2 2025 was EUR 0.14.

Outlook and guidance

• Revenue for 2025 expected at EUR 290–310 million, with EBITA guidance of EUR 9–11 million.

• Guidance unchanged, supported by strong order backlog, selective tendering, and expansion in Sweden.

• Full-year revenue and result expected to be more weighted to the second half, as in previous years.

• Market outlook improving in the short term and positive in the long term.