Qt Group Plc, stock exchange release, August 6, 2025 at 8:00 am EEST
This release is a summary of Qt Group Plc's Half-Year Report January-June 2025.
The complete report is attached to this release as a PDF file, and it is also
available on the company's website at www.qt.io/investors.
Second quarter 2025: Net sales slightly decreased, full year guidance unchanged
April-June 2025
· Net sales decreased 3.9 percent to EUR 51.2 million (EUR 53.3 million). The
effect of exchange rates on the comparison period's net sales was EUR -1.9
million and at comparable exchange rates, net sales decreased by 0.5 percent.
· Operating profit (EBITA) was EUR 11.6 million (EUR 18.5 million) or 22.7
percent (34.7%) of net sales.
· Operating profit (EBIT) was EUR 9.6 million (EUR 16.5 million) or 18.8
percent (31.0%) of net sales.
· Earnings per share were EUR 0.27 (EUR 0.53).
January-June 2025
· Net sales increased 0.1 percent to EUR 98.5 million (EUR 98.4 million). The
effect of exchange rates on the comparison period's net sales was EUR -1.3
million and at comparable exchange rates, net sales increased by 1.4 percent.
· Operating profit (EBITA) was EUR 20.1 million (EUR 29.5 million) or 20.4
percent (30.0 %) of net sales.
· Operating profit (EBIT) was EUR 16.1 million (EUR 25.5 million) or 16.3
percent (25.9 %) of net sales.
· Earnings per share were EUR 0.46 (EUR 0. 83).
The figures in brackets refer to the comparison period, i.e., the corresponding
period in the previous year. The percentage of change in net sales at comparable
exchange rates is calculated by translating the net sales from the comparison
period 2024 with the actual exchange rates of the reporting period 2025 and by
comparing the reported net sales in 2025 with the calculated 2024 net sales at
comparable exchange rates.
Key figures
[][][][]
EUR 1,000 4 4 Change, 1-6/2025 1-6/2024 Change,
1
-6/2025 -6/2024 % %
-12/2024
Net sales 51,224 53,329 -3.9% 98,460 0.1%
209,063
98,407
Operating 11,612 -37.3% -31.9%
71,199
profit (EBITA) 18,525 20,072 29,486
EBITA, % 22.7% 34.7% 20.4 % 30.0 %
34.1%
Operating -41.9% 16,057 -37.0%
63,169
profit (EBIT) 9,605 16,517 25,471
EBIT, % 18.8% 31.0% 16.3 % 25.9 %
30.2%
Return on 3.7% 10.1% 6.4 % 15.8 %
38.1%
equity, %
Return on 4.4% 11.5% 7.7 % 17.9 %
43.4%
investment, %
Interest 3,945 90.8% 90.8%
-bearing 7,529 7,529 3,945
4,316
liabilities[1]
Cash and cash 91,534 126.9% 91,534 126.9%
equivalents[1] 40,350 40,350
64,861
Net gearing, % -44.3% -25.4% -44.3 % -25.4 %
-33.9%
[1]
Equity ratio, 83.2% 73.3% 83.2 % 73.3 %
81.6%
%
[1]
Earnings per 0.53 -49.6% -44.2%
share (EPS), 0.27 0.46 0.83
2.26
EUR
Diluted 0.53 -49.5% -44.0%
earnings per 0.27 0.46 0.82
2.26
share, EUR
Personnel, on 828 9.1% 9.6%
834
average 903 890 813
[1] At the end of the period
Juha Varelius, President and CEO
The weakening of the global economic situation and general uncertainty in future
outlook that began already in the first quarter of 2025 continued in the second
quarter. Additionally, increasing trade tensions significantly slowed down Qt
Group's revenue growth. Net sales in the second quarter of 2025 were EUR 51.2
million, which is a 3.9 percent decrease compared to the exceptionally strong
second quarter in 2024. At comparable exchange rates net sales decreased 0.5
percent.
There is a noticeable cautiousness in customers' purchasing behavior, which is
why net sales was weaker than expected. New customer sales and sales of
developer licenses to customers new product development projects were
challenging in all geographical areas, especially in the Americas and Europe.
Distribution license revenue increased in all geographical areas.
Due to decreased net sales and increased personnel expenses operating profit
decreased during the second quarter in comparison to the previous year. In April
-June 2025 EBITA-margin was 22.7 percent. The company's cash and profitability
were still at a very good level, and we continue our long-term growth
investments according to our strategy.
With Qt Bridges technology, announced in May, we can expand the Qt development
platform and ecosystem by integrating Qt's graphical user interface development
into any chosen programming language. During the first phase supported languages
include Rust, Python, .NET, Swift and Kotlin/Java. Over time, our plan is to
build a universal engine for enabling software innovations. We introduced Qt
Bridges at Qt WorldSummit event, which brought together over 800 software
development professionals in Munich to discuss latest innovations and to hear
key insights on developing with Qt from companies such as Harman, Metso and
Siemens.
In July, we published Qt's recommended public cash offer for I.A.R. Systems
Group, which has a strong position in embedded development solutions. Should the
offer be completed, the combined company would be able to provide a
comprehensive, one-stop shop solution, unlocking significant value for both
companies. The product portfolios of Qt Group and IAR are complementary.
Furthermore, IAR's commercial compiler offering would enable Qt Group to enter
the sizable broader MCU (microprocessor) market, which is driven by, among other
things, functional safety requirements. More information about the offer is
available at www.nordic-software-offer.com.
Despite the challenging market environment, we estimate, that the developer
license net sales will increase from the beginning of the year towards the end
of the year. In addition, we estimate that our earlier growth investments into
sales and quality assurance and testing business will on their part boost the
net sales growth during the second half of the year 2025. We keep our full-year
outlook unchanged.
Outlook for 2025 (issued on April 23, 2025):
We estimate that our full-year net sales for 2025 will increase by 10-20 percent
year-on-year at comparable exchange rates and that our operating profit margin
(EBITA %) will be 30-40 percent in 2025.
News conference
Qt Group will hold an English-language news conference on August 6, 2025, at 11
-12 noon EEST at Eliel studio, Sanomatalo in Helsinki, Finland, and as a webcast
at www.qt.io/investors. CEO Juha Varelius and CFO Jouni Lintunen will present
the results at the news conference. Analysts and investors can participate in
the news conference in person or via conference call:
https://palvelu.flik.fi/teleconference/?id=50051504
Further information:
President and CEO Juha Varelius, tel. +358 9 8861 8040
Distribution:
Nasdaq Helsinki
Key media
www.qt.io