Cabka N.V. (CABKA.AS), on Tuesday, reported a net loss of €4.7 million for the first half of 2025, widening significantly from the €1.9 million loss recorded in the same period last year, largely hit by a deliberate €5.6 million inventory reduction, which, while improving the company's net debt position, temporarily pressured margins and profitability.
On a per share basis, loss widened 217% to €0.19, compared to €0.06 in H1 2024, reflecting the broader impact of operational adjustments under the Shift program, which prioritized cost efficiency and cash flow over short-term earnings.
Sales declined 2% year-over-year to €90 million, mainly due to weaker performance in Europe, though U.S. sales rose 9% following a refreshed commercial strategy. Operational EBITDA fell to €9.1 million, impacted by a deliberate €5.6 million inventory reduction, but cost savings from the Shift program helped preserve margins.
Gross operating margin improved by over 200 basis points to 51.7%, while net working capital dropped 26% to €28.6 million.
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