Loihde (LOIHDE) Q3 2025 earnings summary

Executive summary

• Q3 2025 revenue increased by 2% year-over-year to €32.0 million, with adjusted EBITDA rising to €3.0 million or 9.3% of revenue.

• For January–September 2025, revenue rose 3% year-over-year to €102.5 million; adjusted EBITDA was €7.0 million, or 6.9% of revenue.

• Growth was driven by continuous services in security and cyber solutions, while IT consulting and network device resale faced challenges.

• Price competition intensified across several business areas, impacting project profitability.

Financial highlights

• Q3 2025 revenue: €32.0 million, up from €31.5 million in Q3 2024.

• Adjusted EBITDA for Q3 2025: €3.0 million, up from €2.9 million in Q3 2024.

• Adjusted EBITDA margin for Q3 2025 was 9.3%, unchanged year-over-year.

• January–September 2025 adjusted EBITDA was €7.0 million, slightly down from €7.1 million year-over-year.

• EBITDA for Q3 2025 was €2.5 million, down from €2.8 million in Q3 2024.

Outlook and guidance

• 2025 revenue is expected to grow or remain at the previous year's level.

• Adjusted EBITDA for 2025 is projected to improve from 2024's €11.0 million.