Tekova (TEKOVA) Q1 2025 earnings summary

Executive summary

• Revenue for Q1 2025 reached €23.7M, up 54.4% year-over-year, driven by the completion of seven projects during the quarter.

• EBIT increased 82% to €2.6M, with an EBIT margin of 11.0% compared to 9.4% a year earlier.

• Order backlog at quarter-end was €67M, up 59% from Q1 2024, supported by the largest contract in company history for a data center expansion.

• Net profit rose 88% to €2.0M, and EPS improved to €0.046 from €0.026.

• Workforce grew to 61 employees, reflecting business expansion.

Financial highlights

• Revenue: €23.7M (Q1 2025) vs. €15.4M (Q1 2024), +54.4% year-over-year.

• EBIT: €2.6M (Q1 2025) vs. €1.4M (Q1 2024), EBIT margin 11.0% (up from 9.4%).

• Net profit: €2.0M (Q1 2025) vs. €1.1M (Q1 2024), net margin 8.5% (up from 7.0%).

• Cash at period end: €15.0M; company remains net debt free.

• Operating cash flow: -€1.7M, mainly due to changes in working capital.

Outlook and guidance

• Updated 2025 guidance: revenue €80–100M (previously €70–90M), EBIT €7.0–10.0M (previously €5.5–7.5M).

• Guidance based on strong order backlog and ongoing project negotiations.