Ebro Reports Positive Operating Profit in First Quarter

Ebro concluded the third quarter of 2025 with its first positive operating result since commencing operations. The company recorded revenues of 112.6 million euros and an EBITDA of 6.1 million euros between July and September, driven primarily by sales growth and improved industrial efficiency.

Deliveries in the quarter reached 4,343 units, raising the total vehicles sold to 9,029 by September. The Ebro s700 model accounted for the majority of demand (5,078 units), followed by the s800 (2,493) and the s400, launched in June, with 1,458 units. With these volumes, the company achieved a market share of 1.05% in dealership sales and 0.82% in registrations (7,032 units).

Cumulative revenues from January to September amounted to 217.8 million euros, nearly double that of the first half. Of these, 198.6 million euros were attributed to the automotive business, while 19.2 million euros came from other lines of activity.

The cumulative operating result remains negative at 12.7 million euros in the red, but the company states it "improves significantly compared to the first half of the year," highlighting that it would stand at 8.6 million euros negative if 4.1 million euros associated with training personnel, considered a non-recurring cost, were excluded.

The company asserts it is progressing towards the operational breakeven point anticipated for its first year of activity. The president of Ebro highlights that the third quarter confirms the "operational leverage" of the business model, in a period also marked by the seasonal slowdown in August.

Following the quarter's close, Ebro has continued to strengthen its position. October sales reached 2,027 vehicles, equivalent to a 2.1% market share in a market that, according to ANFAC, has grown by 14.9% so far this year. The commercial network now spans 79 dealerships and aims to close 2025 with around 90 sales points.

Additionally, the company has begun testing its new M1 welding line, which will be operational in the first quarter of 2026 and will increase the plant's production capacity to over 100,000 units annually. Ebro has also bolstered its financing with 39 million euros from the Perte VEC III and announced its entry into the Bulgarian market in 2026, marking the first step in its international expansion.

On November 24, Ebro will unveil the Ebro s900, a new model set to become the flagship of its catalogue. With increased industrial capacity, new markets, and an expanded range, the company asserts it is fulfilling the roadmap promised to investors during its debut on the BME Growth stock exchange.