Hybrid Software Group: 2025 Interim Report

Core Insights - Hybrid Software Group delivered a solid performance in the first half of 2025, with all three reporting segments meeting budget expectations for revenue and operating profit [2] Financial Performance - Revenue for the six months ended 30 June 2025 was €26,592 thousand, a slight decrease from €26,922 thousand in 2024 - Operating profit decreased to €2,210 thousand from €2,344 thousand in the previous year - Profit before tax was €1,415 thousand, down from €1,870 thousand in 2024 - Profit for the period was €1,638 thousand compared to €2,151 thousand in 2024 - EBITDA from continuing operations decreased to €5,431 thousand from €6,483 thousand in 2024 - Adjusted operating profit was €3,953 thousand, down from €4,383 thousand in 2024 - Adjusted net profit decreased to €3,189 thousand from €3,998 thousand in 2024 - Cash and cash equivalents increased to €11,159 thousand from €8,041 thousand in 2024 - Loans and borrowings decreased to €4,400 thousand from €6,900 thousand in 2024, resulting in net cash of €6,759 thousand compared to €1,141 thousand in 2024 [6] Segment Performance - The Printing Software segment experienced a decline in revenue due to the absence of a large OEM contract renewal in Q1 2025, but saw improvement in Q2 with the launch of Mako Apex, driving new contracts [3] - The Printhead Solutions segment continued strong performance, particularly in China, Europe, and North America, with growth in additive manufacturing and improved margins following the end of the chip shortage [4] - The Enterprise Software segment reported over 7% sales growth in the first half of 2025, with a promising sales pipeline as the company enters Q3 [5] Company Overview - Hybrid Software Group PLC is a leading developer of software and electronics for labels, packaging, and industrial print manufacturing, serving major press manufacturers and packaging printers globally [7] - The company is headquartered in Cambridge, UK, and operates through several subsidiaries specializing in various aspects of printing technology [8]