Rebl Group (REBL) Q3 2025 earnings summary

Executive summary

• Revenue for Q3 2025 declined 1.6% year-over-year to €24.6 million, with EBITDA at €0.7 million, down from €1.9 million.

• Nine-month revenue fell 8.2% to €76.6 million, with EBITDA at €1.4 million, down from €4.9 million.

• Operating profit for Q3 was -€1.5 million (vs. -€0.3 million), and for the nine months -€5.1 million (vs. -€1.9 million).

• Net cash flow from operations for the nine months was €2.3 million, down from €2.9 million.

• Significant cost-saving measures were implemented, expected to yield €6 million in annual savings.

Financial highlights

• Q3 EPS was -€0.05 (vs. -€0.06); nine-month EPS was -€0.30 (vs. -€0.25).

• Return on invested capital before taxes was -3.3% (vs. 10.6%); return on equity after taxes was -9.7% (vs. 17.9%).

• Interest-bearing debt at period end was €42.3 million (vs. €40.8 million).

• Equity ratio was 36.7% (vs. 40.3%).

• Investments totaled €4.3 million, or 5.5% of revenue.

Outlook and guidance

• Revenue for 2025 is expected to remain below 2024 levels, with operating profit also expected to weaken.

• Cost-saving and restructuring measures are anticipated to improve profitability from Q4 2025 and into 2026.

• Print segment revenue is expected to decline slightly, while visibility and digital segments are expected to see growth or stable revenue with improved profitability.