Ebusco 2025 revenue jumps to €76.6M, net loss narrows to €71.0M as OED transformation progresses
Dutch electric bus maker Ebusco reported 2025 revenue of €76.6 million, up from €10.7 million, and a reduced net loss of €71.0 million, as it largely completed its shift from OEM to OED production model.
- €76.6 million
- €71.0 million
- 46%
What Happened
Ebusco's 2025 results reflect a year of fundamental transformation. The company largely completed its transition from an original equipment manufacturer (OEM) to an original equipment design (OED) model, reducing headcount by 46% and consolidating facilities. Revenue surged to €76.6 million, while operating expenses and net loss both decreased significantly. However, the company continues to face liquidity constraints and material uncertainty about its ability to continue as a going concern, as noted in its auditor's disclaimer of opinion.
€71.0 million
down from €200.6 million in 2024
Completed comprehensive restructuring of over €32 million indebtedness via debt-for-equity swap.
Secured €5.1 million working capital bridge loan to avoid delivery penalties.
Announced receipt of multiple reverse inquiries for strategic options for bus operations.
Published 2025 Annual Report with going concern warning and disclaimer of opinion from auditor.
“Thanks to all the hard work of our employees, and in close cooperation with our customers and suppliers, Ebusco has been able to put itself in a better position from an operational point of view to capture the growing demand for zero-emission public transport.”
Why this matters
Despite financial challenges and liquidity constraints, Ebusco's operational turnaround and strategic shift to an OED model improved delivery performance and positioned the company to explore a sale of its bus operations, potentially reshaping its future.
Terms in This Story
- OED (Original Equipment Design)
- A business model where a company designs a product but outsources manufacturing to contract partners.
- OEM (Original Equipment Manufacturer)
- A company that manufactures products or components that are purchased by another company and retailed under that purchasing company's brand name.
- EBITDA
- Earnings Before Interest, Taxes, Depreciation, and Amortization; a measure of a company's operating performance.
- Going concern
- An accounting assumption that a business will continue to operate for the foreseeable future.
Summarised from the linked release; details can be imperfect — always verify against the original source.