Wolftank Group (WAH) Q3 2025 TU earnings summary

Executive summary

• Q3 2025 sales increased 7.6% year-over-year to EUR 29.9 million, with an operational turnaround and adjusted EBITDA of EUR 1.1 million.

• High order backlog of EUR 150 million supports continued growth and strategic initiatives.

• Streamlined organizational structure and exit from Latin America, with a positive one-time deconsolidation effect of EUR 1.1 million.

Financial highlights

• Q3 2025 adjusted EBITDA reached EUR 1.1 million; including one-time effects, EBITDA was EUR 2.2 million (Q3 2024: EUR 2.3 million).

• First nine months 2025 sales were EUR 90.7 million, up from EUR 89.8 million year-over-year.

• Adjusted EBITDA for 1-9/2025 was EUR 1.0 million; adjusted EBIT was EUR -2.9 million.

• One-time provision of EUR 2.5 million for a legal ruling in Italy impacted results.

• Without one-time effects, 1-9/2025 EBITDA was EUR -0.5 million (1-9/2024: EUR 7.0 million); EBIT was EUR -4.3 million (1-9/2024: EUR 2.3 million).

Outlook and guidance

• 2025 revenue forecast confirmed at EUR 121–123 million, with adjusted EBITDA expected between EUR 1.5–3.0 million.

• Focus on new growth areas: battery recycling, PFAS decontamination, and automated tank remediation.