EQS-News: 3U HOLDING AG: sound development of business in the first half of 2025 despite a challenging environment

3U HOLDING AG: sound development of business in the first half of 2025 despite a challenging environment

• Start to HVAC segment’s strategic realignment
• Bitcoin investment expanded as part of the treasury strategy
• Management Board affirms outlook for 2025

Marburg, 14 August 2025 – 3U HOLDING AG (ISIN DE0005167902; stock symbol: UUU) looks back on a first half year that was determined by economic uncertainty and structural challenges. Despite these difficult framework conditions, the Group delivered a sound operating performance, providing proof of its business model’s resilience. This applies to all the operating segments: Information and Telecommunications Technology (ITC), Renewable Energies and Heating, Ventilation and Air Conditioning Technology (HVAC)

In the first half of 2025, 3U HOLDING AG generated consolidated revenue of EUR 28.3 million, reflecting a marginal decline of 2.4 % in a year-on-year comparison (H1 2024: EUR 29.0 million). While the HVAC and Renewable Energies segments reported higher revenues, the drop anticipated in the ITC segment resulted in a slight overall downturn. The Group’s segment EBITDA came in at EUR –0.3 million (H1 2024: EUR 2.7 million), attributable in particular to higher personnel costs and non-recurrent other operating expenses. As of the reporting date, the 3U Group employed a workforce of 243 employees in total (31 December 2024: 187). The substantial growth is almost exclusively due to the takeover of the EMPUR activities in the HVAC segment in the first quarter of 2025.

Christoph Hellrung, 3U HOLDING AG’s Chief Financial Officer, commented as follows: “The difficult environment prompted us to take important strategic steps in the first half of 2025. The resulting strategic decisions, especially in the HVAC segment and in the field of Renewable Energies, lay the foundations for sustainable growth. We are convinced that our diversified business model and our sound financial basis will enable a return to a sustainable profitable growth trajectory.”

The ITC segment recorded revenue of EUR 7.0 million which, following the discontinuation of the Voice Retail business announced in Germany, resulted in a year-on-year decline of 29.2 %, as expected. EBITDA came in at EUR 1.5 million compared with EUR 2.3 million in the first half of 2024. The EBITDA margin that posted 22.1 % therefore held its very good level in the reporting period (H1 2024: 23.3 %).

The wind energy generated in the Renewable Energies segment during the period under review was unable to repeat the volume achieved in the first six months of 2024, which was due in particular to the ongoing construction activities at the Langendorf Wind Farm. In the first six months of 2025, the electricity produced by the power plants declined by 30.9 % overall to 17.2 GWh compared with 24.9 GWh the year before. By contrast, there was a gratifyingly significant increase in the volume of solar energy generated in the first half of 2025. The Adelebsen Solar Park produced power of 6.1 GWh in the reporting period, thereby significantly exceeding the year-earlier figure of 4.8 GWh. As a result, segment revenue increased by 2.5 % to EUR 2.5 million, with EBITDA rising by as much as 11.0 % to EUR 1.6 million. The EBITDA margin improved significantly, from 58.6 % in the year-earlier period to currently 63.4 %. Repowering the Langendorf Wind Farm is going according to plan. At the same time, we submitted further applications for the approval of new projects in Lower Saxony and North Rhine Westphalia, with the aim of doubling current production capacities to more than 100 MW in the coming years.

Strategic realignment was initiated in the HVAC segment after negotiations on a major acquisition had to be unexpectedly terminated in April 2025. Plans to launch Selfio SE on the stock exchange were halted, and the emphasis is now placed on organic growth, expanding the product range and developing new market segments through the segment’s own endeavours, flanked by raising efficiency. The integration of the EMPUR Group acquired in the first quarter of 2025 and the realignment of the sales activities in accordance with a three-tier model consisting of B2C, B2B and wholesale are also aimed at contributing to the HVAC segment’s sustainable and profitable development. In the first six months of 2025, the segment achieved revenue of EUR 19.3 million, which reflects a mainly acquisition-induced increase of 12.9 % in comparison with the year-earlier figure. EBITDA came in at EUR –1.4 million which was attributable to higher personnel costs and non-recurrent expenses for the takeover and integration of the EMPUR Group.

Extended Bitcoin strategy: dynamic trend and performance reinforcing balance sheet strength

3U HOLDING AG invested in more Bitcoin in the first half of 2025. Along with its core holdings of 200 Bitcoin as a strategic, long-term reservoir of value,158.3 more Bitcoin worth EUR 14.5 million had been acquired by the end of July 2025. This measure increased the overall holdings to 358.3 Bitcoin with an investment volume in excess of EUR 26.6 million. These investments enable surplus liquidity to be invested in the short to medium term while strengthening the company’s financial and strategic position. Starting from an average purchase price of around EUR 74,300 per Bitcoin, the Group has already been able to realise price gains of up to 35 %. The Bitcoin investments currently account for less than one fifth of current total assets and offer the company additional stability, diversification and profit potential. With an equity ratio of 64.2% (31 December 2024: 69.2 %) and cash and cash equivalents of more than EUR 22.1 million (31 December 2024: EUR 42.6 million), 3U HOLDING AG continues to enjoy a sound financial position. Current information on 3U’s Bitcoin holdings can be found at https://www.3u.net/en/3u-group/

Outlook: clear priorities and targets affirmed for 2025

In view of business developing in line with expectations in the first six months, the Management Board affirms its current guidance. Without factoring in future acquisitions, the Board expects overall earnings in 2025 in a range of between EUR 62 million and EUR 66 million, which would correspond to growth of 11 % to approximately 18 %. Given normalised earnings before interest, taxes, depreciation and amortisation, the Group’s management continues to assume breakeven in 2025. Unadjusted for non-recurrent expenditure in the context of restructuring and the strategic realigning of Selfio SE in the HVAC segment, the Management Board anticipates negative consolidated EBITDA.

The focus in the second half of 2025 has been placed on implementing the aforementioned strategic measures in the three segments, most particularly the scheduled expansion of the electricity generating capacities in the Renewable Energies segment, developing the Managed Services portfolio in the ITC segment and reinforcing the HVAC segment through its own endeavours. Despite the challenges, the Management Board remains optimistic with a view to achieving the defined targets and to forging ahead with raising the value of the company over the long term.

Event announcement:

A webcast on 3U HOLDING AG’s results for the first half of 2025 and the outlook for 2025 will be held today 10:00 CET with CFO Christoph Hellrung and Uwe Knoke, Board member responsible for Strategy and Business Development. The presentation will be held in German. Please register here to participate in the webcast: Earnings Call registration

A recording of the web cast will be available for viewing after the event at https://www.3u.net/en/newsroom/media-library/

More detailed information on the company’s performance in the first half of 2025 can be found in the half-year financial report at https://www.3u.net/en/investor-relations/publications/

Group results at a glance

Contact:
Thomas Fritsche, Investor Relations
Tel.: +49 (0)6421 999 – 1200
email: IR@UUU.de

About 3U:
3U HOLDING AG based in Marburg, Germany, was founded in 1997. As the operating management and investment holding company, it heads up the 3U Group. With a view to increasing the value for the shareholders, employees, customers, suppliers and all stakeholders, the company acquires, operates and sells companies in the three segments of ITC (Information and Telecommunications Technology), Renewable Energies and HVAC (Heating, Ventilation and Air Conditioning Technology. The 3U Group operates successfully and profitably with its business models in mega trends in all three segments and is striving to attain market leadership in particular with its e-commerce business model. 3U HOLDING AG shares are traded on XETRA, Tradegate and on German regional stock exchanges (ISIN: DE0005167902; identifier: UUU). More information can be found at www.UUU.de.