Tekova - Revenue beat, but EBIT guidance range is wide
Profitability was mainly in line with our expectations and didn’t offer surprises. Guidance range for the revenue was as expected but EBIT guidance range is quite wide and below our estimates.
- Tekova Q4 revenue grew 41.9 % to EUR 30.5m vs. our estimate of EUR 24.0m. Multiple project deliveries and the shift of revenue from 2026 to 2025 were main drivers behind the larger than expected revenue.
- Orderbook at the end of the quarter was EUR 68m, remaining close to the prior year level (EUR 70m).
- EBIT was EUR 2.5m with EBIT margin of 8.2% vs. our estimate of EUR 2.6M. Cost of goods sold rose in line with revenue and other cost items were in line with our expectations.
- EPS was 0.046 vs. our estimate of 0.047.
- The BoD proposes dividend per share of EUR 0.09 to be distributed for FY2025 vs. our estimate of EUR 0.08.
- Tekova gave a guidance where it estimates that revenue for the year 2026 will be between EUR 90-115m and EBIT to be between EUR 6.5-11.0m. Our current estimate for the revenue is EUR 109m and EBIT 11.4m.