FRIWO with solid development after nine months – strategic advancement proceeding according to plan - FRIWO
06. November 2025

FRIWO with solid development after nine months – strategic advancement proceeding according to plan

  • Nine-month revenue of 61.0 million euros, as expected below previous year
  • EBIT at 12.6 million euros (9M-24: -2.9 million euros) thanks to one-off effects from portfolio sales – adjusted comparable result at 1.0 million euros
  • Order intake at a solid 65.5 million euros
  • Outlook for 2025 specified: Revenue between 75 and 85 million euros expected after completion of portfolio transactions, with a balanced EBIT and high one-time gains from divestments

Ostbevern, November 6, 2025 – FRIWO – an international product and system provider of power supplies and charging technology – remains on track to achieve its communicated annual targets in a challenging economic environment marked by special effects. Following the expected economic slowdown at the end of the third quarter, nine-month revenue amounted to 61.0 million euros (9M 2024: 64.4 million euros). It should be noted that in 2025, the application of the accounting rules for revenue recognition (IFRS 15) had a negative impact on revenue of -6.8 million euros, meaning that consolidated revenue would have been significantly higher than in the previous year on a comparable basis. Gross profit improved by almost half thanks to a noticeable reduction in personnel and material costs and an improved product mix. EBIT (earnings before interest and taxes) would have been 1.0 million euros without the various one-off effects in this reporting period, primarily from the sale of minority interests in the joint venture in India and the insolvency of a supplier. The comparable figure for the previous year was -1.8 million euros. Accordingly, reported EBIT jumped from -2.9 million euros to 12.6 million euros year-on-year. Earnings after taxes increased accordingly from -5.7 million euros to 8.7 million euros. The proceeds from the transaction of the top-hat rail business, which was also completed at the end of October, will not be recognized until the fourth quarter. As of September 30, 2025, order intake stood at a solid 65.5 million euros, with an order backlog of 38.4 million euros.

Full-year outlook for 2025 specified

In light of this expected development after nine months, the Management Board of FRIWO AG is specifying its outlook for the full year 2025. Revenue of 75 million euroseuro to 85 million euros (previously 75 million euros to 90 million euros) and a balanced operating EBIT (excluding one-time effects, previously balanced) are now expected. Due to the high one-time proceeds from the now completed divestitures of the hat rail business (closing at the end of October 2025) and the joint venture share in India (closing at the beginning of July 2025), FRIWO expects to report a significant annual profit.

”We are very pleased with the transformation steps taken this year. Both portfolio transactions were completed with high one-time proceeds. The focus on internationalization and innovation is already bearing fruit and will be consistently continued in the coming quarters,“ comments Dominik Woeffen, CEO of FRIWO AG. His fellow board member Ina Klassen adds: ”The transaction-related cash inflows have enabled us to complete our financial restructuring and are also available for the necessary future investments in our planned profitable growth.”

Solid financial and balance sheet foundation

Due to the significant reduction in debt and the portfolio sales made, FRIWO AG’s total assets as of September 30, 2025, fell from 63.7 million euros at the end of 2024 to 50.4 million euros. Thanks to one-time proceeds from the sale of the Indian joint venture, equity increased significantly to 9.7 million euros (end of 2024: 3.3 million euros) and the corresponding equity ratio to 19.2% (end of 2024: 5.3%). This will improve further to more than 30% by the end of the year due to cash inflows from the now completed sale of the top-hat rail business. Following the completion of the Group’s financial restructuring in July 2025, FRIWO will thus have a healthy financial and balance sheet foundation to finance its planned future growth.

The number of employees fell further to 1,035 as of September 30 (end of 2024: 1,206); more than 90% of these continue to work at the Vietnamese sites. As previously announced, the relocation of the Group headquarters to a modern location in Ostbevern that is more suitable for the reduced headcount was completed on September 1, 2025.

Clear focus on medium-term growth targets

FRIWO is consistently pursuing its goal of expanding its position as a leading system provider of power supply solutions. The newly established global sales organization and increased internationalization in North America and Asia, among other regions, promise great potential for the coming years. The new product launches, which have already been successfully presented to existing and potential new customers, are meeting with great interest. In the coming quarters, the company plans to roll out further technological developments from its well-filled innovation pipeline. These are also intended to drive expanded value creation through additional technology-related activities. Against this backdrop, the company is confident that it will achieve sustainable growth in the medium term and realize an EBIT margin of more than 5.0%.

Further information about the company can be found on the investor relations pages of FRIWO at: www.friwo.com/en/about/investor-relations/

Contact investor relations and media

FRIWO AG
Vivian Hage
+49 (0) 2532 81 0
ir@friwo.com

Peter Dietz
+49 (0) 69 97 12 47 33
dietz@gfd-finanzkommunikation.de

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