Rosenbauer International (ROS) Q2 2025 earnings summary

Executive summary

• Revenue increased by 13.1% year-over-year in H1 2025 to €604.7 million, driven by higher vehicle deliveries and equipment sales in a volatile environment.

• Operating result was impacted by one-time special effects and non-recurring charges in the Americas and Preventive Fire Protection segments, leading to a decline in EBITDA and EBIT.

• Order backlog reached a historic high of €2.4 billion, providing a strong foundation for future growth.

• A capital increase and new majority shareholder strengthened the balance sheet and ownership structure.

• Net debt fell significantly to €314.3 million, and trade working capital improved by 11.0% to €477.4 million.

Financial highlights

• Revenues rose to €604.7 million in H1 2025 from €534.6 million in H1 2024 (+13.1%).

• EBITDA declined slightly to €28.2 million, while adjusted EBITDA was €32.3 million.

• EBIT dropped to €7.4 million from €14.4 million year-over-year, mainly due to special charges.

• Net profit for the period was negative at -€18.7 million, compared to -€5.2 million in H1 2024.

• Cash flow from operating activities improved to -€23.8 million from -€50.0 million year-over-year.

Outlook and guidance

• Sales for 2025 are expected to reach around €1.5 billion, assuming no further negative impact from new US import tariffs.

• EBIT margin for 2025 is forecast at approximately 5.5%, reflecting one-time special charges in H1.

• The firefighting industry is supported by strong order books and improved supply chains, enabling higher production and deliveries.