Rosenbauer International (ROS) Q1 2025 earnings summary

Executive summary

• Revenues in Q1 2025 rose 16.8% year-over-year to €263.6 million, driven by strong vehicle, equipment, and service sales.

• EBITDA more than doubled to €16.7 million, EBIT reached €9.0 million, and net profit turned positive at €0.1 million compared to prior losses.

• Order intake remained robust at €358.7 million, with order backlog increasing to €2,343.5 million.

• Successful capital increase improved equity ratio to 25.2% and reduced net debt to €288.0 million.

• Earnings per share improved to €-0.1 from €-1.4 in Q1 2024.

Financial highlights

• Revenues: €263.6 million (+16.9% year-over-year); EBITDA: €16.7 million (>100% increase); EBIT: €9.0 million (>100% increase).

• Gross profit increased to €50.2 million, with gross margin improving to 19.0% from 16.0% year-over-year.

• Cash flow from operating activities improved to -€6.8 million from -€58.4 million in Q1 2024.

• Net debt reduced by 41.6% year-over-year to €288.0 million; gearing ratio improved to 88.5%.

• Equity ratio increased by 11.7 percentage points to 25.2%.

Outlook and guidance

• Revenues for 2025 expected to rise to around €1.5 billion, with EBIT margin targeted above 6%.

• Management anticipates further increases in revenues and earnings, supported by a strong order backlog and improved supply chains.

• Global economic growth forecast revised down to 2.8% for 2025, with global inflation at 4.3%.

• Industry growth is expected, though risks from municipal budgets, security investments, and trade barriers remain.