ABO-Group Environment Half-year results 2025

Core Insights - ABO-Group is transitioning from small-scale projects to larger projects in sectors such as defence, nuclear waste management, and mining, marking a significant shift in its operational strategy [3][4][7] - The company achieved a revenue of €53.6 million in the first half of 2025, reflecting a growth of 17.7%, with organic growth contributing 8.1% and acquisitions contributing 9.6% [9][11] - The financial targets for 2025 remain intact, with expectations to reach between €105 million and €110 million in revenue despite a slowdown in the construction sector [8][9] Financial Performance - The EBITDA increased from €5.4 million to €5.9 million, while the EBITDA margin decreased from 11.8% to 11.1% [10][18] - Net profit fell significantly from €493,000 in 1H24 to €226,000 in 1H25, a decrease of 54.1% [10][20] - The balance sheet remains strong with a solvency ratio of 28% and a debt ratio of 2x EBITDA [9][21] Revenue Breakdown - Revenue by activity shows Geotechnical at €23.96 million (10.8% growth), Environment at €24.66 million (17.3% growth), and Monitoring & Infrastructure at €5.05 million (71.9% growth) [12][35] - Revenue by country indicates Belgium at €18.88 million (17.6% growth), Netherlands at €9.90 million (32.5% growth), and France at €24.89 million (12.8% growth) [15][35] Strategic Developments - The appointment of new COOs for Belgium and the Netherlands aims to enhance operational efficiency and knowledge sharing within the organization [5][9] - The company is focusing on large-scale projects that are expected to start in the second half of 2025, particularly in defence and nuclear waste sectors [25][26] Market Position and Outlook - ABO-Group's resilience to economic cycles is bolstered by ongoing geopolitical turbulence, supporting growth expectations for 2026 and 2027 [27] - The company is adapting to a competitive market environment, particularly in the Environmental Division, which faces pressure from new entrants [13][16]