Wirtek (WIRTEK) Q4 2025 earnings summary

Executive summary

• 2025 revenue was DKK 64.3 million, down 10% year-over-year, mainly due to the loss of a major client, market challenges, and strategic transformation.

• EBITA/EBITDA for 2025 was DKK 1.7 million (2.6% margin), with sequential improvement and a strong Q4 margin rebound (~11%).

• The company diversified its market exposure, with the U.S. as the largest market (33–35% of revenue), followed by Denmark, Netherlands, and Portugal.

• Strategic milestones included establishing a solutions division, expanding in the energy and IoT verticals, and investing in AI and platform modernization.

Financial highlights

• Revenue decreased from DKK 71.9 million in 2024 to DKK 64.3 million in 2025.

• EBITA/EBITDA dropped from DKK 5.2 million (7.3% margin) in 2024 to DKK 1.7 million (2.6% margin) in 2025.

• Q4 2025 delivered EBITA/EBITDA of DKK 1.8 million (~11% margin) and revenue of DKK 16.7 million.

• Operating cash flow was positive at DKK 1.3 million; equity ratio stood at 44%.

• Pre-tax result for 2025 was DKK -1.5 million (2024: +2.7 million).

Outlook and guidance

• 2026 revenue guidance: DKK 65–70 million (1–9% growth over 2025).

• 2026 EBITA/EBITDA guidance: DKK 3–6 million (4.5–9% margin), up 76–253% year-over-year.

• Guidance reflects continued investment in AI and solutions, with a cautious outlook for H1 2026 and focus on profitable growth.

• Solutions revenue and ARR/subscription income expected to scale in 2026.