TBSG adjusted its FY2025 outlook slightly downwards and revealed expectations for FY2026 (NEUTRAL)
05.12.2025
Source: TBSG; FFBH
In a digital event held for current shareholders and potential investors, Telelink Business Services Group (TBSG) presented its updated financial outlook for FY2025. The management expects consolidated revenue of EUR 145.2m (+4.9% adjustment), an EBITDA margin of 9% (vs 9.6%), and a net profit of EUR 7.5m (-3.8% adjustment). Note that TBS booked EUR 8.6m net profit for the 9m period, and the group’s CEO confirmed that the final quarter of the year will come with approximately EUR 1m net loss, mainly due to the employee bonuses.
The management also revealed the FY2026 guidance, providing for up to 5% revenue growth to EUR 152.7m, a moderated increase in EBITDA margin and EUR 8.5m net profit (+13% YoY). In addition, the company keeps exploring the M&A potential, looking to conclude at least one deal next year. TBSG also aims to counter the gross profit fluctuation and increase recurring revenue up to 65% of the total (from 35% currently).