SBF AG (ISIN: DE000A2AAE22; WKN: A2AAE2), a listed specialist in rolling stock, lighting, electromechanics and sensor technology, published its Annual Report 2025 on April 30, 2026. The company generated consolidated revenue of EUR 40.7 million, at the upper end of its most recently forecast range of EUR 39 million to EUR 41 million, compared to EUR 47.2 million in 2024. EBITDA rose significantly to EUR 1.0 million (2024: EUR 0.6 million), with the EBITDA margin increasing to 2.5% from 1.3%.
Robert Stöcklinger, Member of the Management Board of SBF AG, commented: 'Our earnings performance shows that our strategic adjustments are taking us in the right direction. In an exceptionally challenging environment for the manufacturing industry, we were able to significantly improve our profitability despite restructuring-related burdens. We will continue on this path by expanding sales activities, optimizing cost structures and consistently unlocking SBF’s potential.'
The company faced a challenging market environment and structural adjustments across its three business divisions. The Rolling Stock division experienced project postponements due to changes in investment behavior and capacity and supply chain issues on the customer side, though SBF continues to see attractive growth prospects. This segment generated revenue of EUR 18.9 million (2024: EUR 21.0 million) and EBITDA of EUR 1.8 million (2024: EUR 2.9 million).
The Public and Industrial Lighting division saw project-related delays in the municipal sector and restrained investment activity, leading to lower revenue of EUR 9.8 million (2024: EUR 12.0 million). EBITDA was EUR -1.7 million (2024: EUR -1.9 million), impacted by weaker capacity utilization and one-off expenses from a complete production relocation intended to create efficiency gains from 2026 onward.
In the Sensor Technology and Electromechanics division, AMS Software & Elektronik GmbH generated revenue of EUR 12.7 million (2024: EUR 14.9 million), with customer call-offs lower than expected. However, progress in integrating the 2024 acquisition and synergies in purchasing, project management, digitalization and production contributed to EBITDA of EUR 1.5 million, exceeding expectations (2024: EUR -0.8 million).
Group-wide, SBF implemented key measures to improve its operational setup, including efficiency enhancements, optimization of production capacities and expansion of its manufacturing facilities in Ceske Budejovice, Czech Republic. These efforts aim to provide mechanical production and electronic and mechanical assembly for all divisions from a single source.
The Annual Report 2025 is available for download on the company’s website at https://www.sbf-ag.com/investor-relations/finanzpublikationen/. For more information about SBF AG, visit https://www.sbf-ag.com.
