SBF AG Expands Access to Deutsche Bahn Tender Market Through New Certification

The German company SBF AG (ISIN DE000A2AAE22, WKN A2AAE2), listed on the Frankfurt Stock Exchange and headquartered in Leipzig, announced on 27 November 2025 that several of its lighting solutions have received certification from Deutsche Bahn. The certification enables the LUNUX portfolio of luminaires to be included in Deutsche Bahn’s official selection lists, thereby widening the company’s potential to participate in future railway tenders.

Key Details of the Certification

  • Scope of Certified Products The certification covers multiple models within the LUNUX series, which have been redesigned in the current year to meet updated technical and economic criteria.

  • Impact on Tender Access Inclusion in Deutsche Bahn’s luminaire selection lists means that planners and procurement specialists can consider SBF’s products for use throughout the Deutsche Bahn network. This expands the company’s exposure to the railway and infrastructure sector, one of its primary markets alongside municipal and industrial clients.

  • Strategic Significance By securing regulatory approval, SBF AG strengthens its position in a key public-sector market and reinforces its reputation as a specialist in innovative lighting, electromechanics, and sensor technology for rolling stock.

Market Reaction

The announcement was made at 09:00 CET/CEST, a time when the company’s share price was trading at €4.74 on the Xetra exchange. The certification is expected to influence future revenue streams, particularly as Deutsche Bahn continues to modernize its rolling stock and infrastructure.

Contextual Analysis

Analysts at GBC (Marcel Goldmann and Cosmin Filker) recently revised SBF AG’s 2025 financial outlook. While the company now projects lower revenue (EUR 39.0 – 41.0 million) and EBITDA (EUR 1.7 – 2.1 million) compared with the previous guidance (EUR 43.0 – 46.0 million revenue; EUR 1.5 – 2.5 million EBITDA), the analysts maintained a positive rating and affirmed the target price. They cited a shift in order schedules, particularly in the rail segment, as a primary factor for the reduced guidance.

The new Deutsche Bahn certification aligns with the company’s strategy to secure stable, long‑term contracts in the rail and municipal sectors. Although the revised financial forecasts reflect delayed order uptake, the expanded tender access could mitigate revenue volatility over the medium term.

Conclusion

SBF AG’s certification from Deutsche Bahn marks a significant step in broadening its market presence within the railway sector. While the company’s 2025 financial guidance has been moderated due to order schedule shifts, the inclusion of its LUNUX luminaires in Deutsche Bahn’s selection lists is expected to enhance its competitive position and potentially support future revenue growth.