SBF AG Reports Strong First Half 2025 Performance Despite Challenging Market Conditions

SBF AG reported robust operational performance during the first half of 2025, navigating a challenging market environment for the manufacturing industry while confirming its outlook for the full year. The company generated group revenue of EUR 21.9 million, slightly below the previous year's EUR 22.9 million, primarily due to short-term delays in customer call-off orders that will also impact the second half of the year.

Despite the revenue decline, SBF significantly improved its financial performance with EBITDA rising to EUR 0.5 million compared to EUR 0.1 million in the first half of 2024. This improvement stems from the positive effects of restructuring measures and efficiency improvements implemented by the company. Adjusted for a precautionary entry related to a customer insolvency, EBITDA would have reached EUR 0.9 million, demonstrating the underlying strength of the business operations.

Robert Stöcklinger, member of the Management Board of SBF AG, emphasized the company's resilience in an extremely challenging market environment characterized by consumer reluctance, supply chain problems, and structural adjustments. He stated the company remains well on track to achieve annual targets and sees new opportunities emerging from extensive investments in infrastructure, mobility, and defense sectors that SBF intends to actively pursue.

The Rolling Stock segment showed particularly strong performance with revenue increasing 19% to EUR 11 million compared to EUR 9 million in the first half of 2024. Although significant short-term customer postponements will affect the second half, the company maintains an exceptionally high order backlog in this segment. The contractually secured project durations ensure good production capacity utilization in the coming months and years, supported by the company's strong position in the rail market.

In the Public and Industrial Lighting segment, revenue reached EUR 4.5 million, below initial expectations and down from EUR 6 million in the prior year period. The weaker performance reflects ongoing impacts from sluggish industrial economy in Germany and reduced order intake. However, the company has implemented extensive measures to strengthen this business, including relocating production to Budweis where operations are now fully functional with significantly lower rental and personnel costs.

The company has obtained product certifications for projects with Deutsche Bahn and local authorities to strengthen order entry. The Sensor Technology and Electromechanics segment maintained solid performance with revenue of EUR 7 million, matching the previous year's results. Earnings improvement measures are already showing positive effects, and based on the promising order backlog, a good result is expected by year-end. This segment plays a central role in the Group's growth strategy, with increasing synergy effects expected to strengthen the entire Group's earnings power long-term.

The Management Board confirmed its outlook for the 2025 fiscal year, expecting revenue between EUR 43.0 and 46.0 million and consolidated EBITDA in the range of EUR 1.5 to 2.5 million. This represents a significant improvement over the previous year's EUR 0.6 million EBITDA, with further profitability enhancements targeted from 2025 onward. The 2025 half-year report is available on the company's website at https://www.sbf-ag.com/investor-relations/finanzpublikationen.