Eckert & Ziegler SE

Latest Results (08.03.2026):

Eckert & Ziegler SE — Q1 2025: The group delivered a modest top-line increase and stronger profitability in the first quarter of 2025, reporting sales of €68.2m and a net profit of €9.7m (up ~14% year‑on‑year). Adjusted operating profit rose, cash generation improved materially, and the balance sheet strengthened despite a February cyber attack that temporarily disrupted some deliveries.

Revenue and profit

Sales: €68.2 million in Q1 2025, +1% vs Q1 2024. Reported group profit (net income) ~€9.7 million, a ~14% increase year‑on‑year.

Operating profitability

EBIT before special items: €16.2 million (+8% vs Q1 2024). Reported EBIT: €14.9 million (+5%). EBITDA: €18.2 million (+5%). Return on revenue before tax improved to 22.0%.

Earnings per share

Basic earnings per share: €0.46 for Q1 2025, up ~12% from €0.41 in Q1 2024.

Cash flow and liquidity

Operating cash flow from continuing operations: €7.0 million (up 71% YoY). Cash and cash equivalents: €118.1 million at 31 March 2025.

Balance sheet and capital structure

Total assets €451.7m; equity €233.0m (equity ratio 51.5%). Net loan liabilities reduced to €18.5m (non‑current €12m, current €6m). Income tax liabilities rose to €13.1m.

Key drivers and headwinds

Pharmaceutical radioisotopes remained the main revenue driver. Q1 was affected by a February cyber attack that caused temporary delivery stops (notably gallium generators); remediation costs recognized in the P&L were about €0.5m and currency effects reduced earnings by ~€0.8m in the quarter.

Significant transactions

Licence agreement with joint venture Qi Kang Medical (QKM) for Ac‑225 cyclotron technology: contract guarantees a €10m one‑time payment plus royalties — the Group invoiced €10m to the JV, with related receivable expected to be settled in Q2 2025 (partly eliminated in consolidation per IAS 28).

Outlook

Despite the cyber incident, guidance remains unchanged: FY 2025 target revenue approximately €320 million and adjusted EBIT around €78 million; the company expects delays will be caught up in subsequent quarters.

Other operational notes

Employees: 1,094 at 31 March 2025 (+2% vs prior year). Inventory and trade receivables increased (receivables driven notably by the licence invoicing to the JV).