Arteche achieves a net profit of 19.9 million in the first half of the year, up 168.5%

• Orders exceeded €300 million for the first time in a single half-year, reaching €302.2 million, 6.2% more compared to 2024.
• Direct margin reached €94 million, up 14.1%, driven by improved internal efficiencies, growth in sales volumes and product mix.
• EBITDA stands at €38.3 million, which means a margin of 15% on sales and reflects strong growth of 55.6%.
• Net financial debt stands at 0.6 times EBITDA for the last six months, compared to 0.5 times at 31 December 2024, maintaining a strong balance sheet position even after the inorganic transactions carried out during the half-year.

Mungia (Bizkaia), 8 September 2025.- Arteche, a global leader in equipment, components and solutions for the energy sector, has presented its financial results for the first half of the 2025 financial year. The targets set out in the 2024-2026 Strategic Plan ‘Energizing Futures Together’ have been met, and exceeded in some cases, so the financial guidelines for 2026 will be updated at the end of the financial year as a result.

Financial figures for the first half of 2025

Arteche achieved a net profit of €19.9 million at the end of the first half of the year, representing a sharp increase of 168.5% compared to the same period last year. Sales stood at €256.2 million in this period, an increase of 13.9% compared to the first half of the previous year, thus exceeding the 10% target set in the company's financial guidelines. This figure once again reflects double-digit sales growth, with cumulative growth of 64.1% compared to the first half of 2022.

The new contracts exceeded €300 million in a single half-year for the first time, reaching €302.2 million, a 6.2% increase on the previous year. If this trend continues, new contracts could close the financial year at the end of the year with double-digit growth. It is worth highlighting the growth in contracting in the network reliability business, with an increase of 44.3%, as well as contracting in the Asia-Pacific (APAC) region, with 28.8%, consistent with the geographical and business objectives set out in the Strategic Plan.

Direct margin in absolute terms reached €94 million in the first six months of the year, up 14.1%, driven by growth in sales volumes, product mix and, above all, improved internal efficiencies.

EBITDA stood at €38.3 million, representing solid growth of 55.6% compared to the same period last year. This result represents 15% of sales, which not only meets but exceeds the target set in the Strategic Plan.

Net financial debt stood at €37.3 million in June 2025, representing a leverage ratio of 0.6 times the EBITDA at the end of the half-year, compared to 0.5 times at the end of 2024. Arteche maintains a strong balance sheet position following the inorganic growth operations carried out during this period.

With regard to shareholders' remuneration, during the first half of 2025, total remuneration to shareholders charged to the 2024 results stood at €0.166 per share, equivalent to the distribution of 50% of the Group's net profit for the 2024 financial year. In addition, earnings per share amounted to €0.35 at year-end, representing an increase of 168% compared to the first half of 2024.

All regions contribute to sales growth once again

In the first half of 2025, all regions contributed positively to sales growth, with particularly strong growth in Europe, the Middle East and Africa (EMEA) at 25.6%.

By business, in measurement and monitoring:

• This business line has stood out with a 20% increase in sales across its entire portfolio and geographical areas.
• Arteche has made significant efforts in terms of innovation, notably with the launch of the new ECO-5 600kV DC/550 kV AC optical transformers with sustainable air insulation; as well as the rural electrification project in Ouadior (Senegal) which, thanks to the use of PVTs (Power Voltage Transformers), has enabled access to energy for more than 10,000 people, improving their quality of life. Also noteworthy is the launch of its first 72.5 kV voltage sensor, which stands out for offering greater precision in a compact format and opens up new possibilities for improving energy efficiency.

Concerning the transmission and distribution network automation business:

• New contracts have grown by 4.4% compared to the same period last year.
• Arteche has carried out international projects, such as the commissioning of the Guayubin substation in the Dominican Republic, a 345kV digital substation for the Dominican Electricity Transmission Company (ETED), responsible for operating the National Interconnected Electricity System in the Dominican Republic. In order to respond to these projects, a flexible manufacturing cell has been implemented for the new merging units, devices responsible for capturing and transmitting electrical signals from field equipment to digital control systems, which facilitates integration and supervision in modern electrical substations.  

Lastly, regarding the network reliability business:

• Following the guidelines set out in the Strategic Plan, network reliability contracts increased by 44.3% in the first half of the year.
• In accordance with this growth and its inorganic growth strategy, Arteche has acquired the 100% of RTR Energía, a manufacturer of capacitors and power quality solutions based in Madrid. This transaction will enable the company to expand the volume of this business line, incorporate new technologies into Arteche's product portfolio, and strengthen its manufacturing and integration capabilities in renewables, as well as the international reach of the network reliability business.
• In addition, Arteche and MONDRAGON have announced the creation of AMETS Power Electronics, in collaboration with the IKERLAN technology centre; a joint venture focused on the development of innovative solutions in power electronics.
• These operations represent a further step forward in the network reliability business initiated with the acquisition of a stake in the Finnish company Teraloop in 2024, in which Arteche now holds a 10% stake and commercial exclusivity.
• Furthermore, as an opportunity for growth and a tool to promote energy storage projects that require the use of flywheels, marketed by Arteche and manufactured by the company Teraloop, in which it participates, the first call for funding grants with FEDER funds has been approved, which can be accessed until 2027.

Arteche remains committed to conducting its business in accordance with Environmental, Social and Corporate Governance (ESG) criteria. In fulfilment of this commitment through gradual transformation, Arteche has improved the measurement of its carbon footprint (Scope 1 and 2 emissions) and is already working to advance in its decarbonization objectives. Keeping this goal in mind, the company has managed to reduce its carbon footprint by 35% compared to the 2022 baseline. Looking ahead to 2030, the group's goal is to reduce it by 50% compared to that same year.

Furthermore, energy consumption from renewable sources now accounts for 67% of the total, a significant increase from 59% at the end of 2024. This figure aligns with the goal of achieving 100% renewable energy consumption by 2030.

Meanwhile, the percentage of recycled and reused waste has reached 76% of total waste generated, improving on the figure of 67% recorded at the end of 2024. This improvement is also aligned with the strategy of achieving 100% waste recycling and reuse by 2030.

In the social area, Arteche maintains its commitment to real and effective equal opportunities, progressively increasing the percentage of women in management and leadership positions throughout the group, which stood at 31% at the end of the first half of 2025, resulting from 45% internal promotions of women talent.

Finally, in the field of governance, Arteche continues to work on strengthening the effectiveness of its internal control in accordance with the Internal Financial Information Control System (SCIIF) and adapting and improving corporate governance, following the recommendations and best practices for good governance.