Tekova (TEKOVA) Q4 2025 earnings summary

Executive summary

• Revenue grew 69% year-over-year to €110.7 million, driven by a major data center project in Mäntsälä and strong commercial activity.

• EBIT rose 72% to €10.3 million, with an EBIT margin of 9.3%, reflecting improved profitability and effective execution.

• 18 projects were delivered, 16 with zero defects, and customer satisfaction remained high (NPS 76).

• Introduced a three-year warranty, exceeding industry standards.

• 2025 marked the first year as a public company, with active project development and property sales.

Financial highlights

• Full-year revenue was €110.7 million, up 69% year-over-year; EBIT reached €10.3 million (9.3% margin).

• Q4 revenue was €30.5 million, up 41.9% year-over-year; Q4 EBIT was €2.5 million.

• Year-end order backlog stood at €68 million, slightly down from the previous year.

• Positive operating cash flow of €2.4 million; cash position at year-end was €17.8 million.

• Earnings per share was €0.19; net profit increased 64% to €8.2 million.

Outlook and guidance

• 2026 revenue guidance: €90–115 million; EBIT guidance: €6.5–11 million, reflecting project-based uncertainties.

• Guidance based on current order backlog, ongoing negotiations, and market assessment.

• Management expects short-term fluctuations in results due to timing of large projects.

• Emphasis on realistic targets due to market volatility and project timing.

• Growth expected to continue, supported by ongoing project negotiations.