Bel Fuse expects ~$14M pre-tax impairment in Q4 2025 on Innolectric investment after insolvency filing

BEL FUSE INC /NJ

Pre-tax impairment of up to ~$14M expected in Q4 2025, covering full loss of $10M investment and $4M notes receivable.
Innolectric filed for insolvency in Germany on Nov 26, 2025; majority owner unable to provide further funding.
Bel acquired 1/3 minority stake in Innolectric in Feb 2023; EV market weakness and reduced incentives delayed sales.
Bel decided against acquiring remaining 2/3 stake from majority owner; no further capital to be invested.
Bel recorded $0.4M loss from Innolectric in 9M 2025 and $0.6M in FY2024; cash outlays of $0.8M and $0.6M respectively.

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