Equasens: 2025 half-year results

Core Insights - The company reported a revenue of €116.0 million for H1 2025, reflecting a 7.4% increase compared to H1 2024, with a like-for-like growth of 6.4% [6][3] - Recurring EBITDA reached €29.8 million, up 5.5% from the previous year, while the current operating profit increased by 1.2% to €21.1 million [6][3] - Net profit remained stable at €18.1 million, showing a slight increase of 0.3% [6][3] Financial Performance - Revenue breakdown shows growth across various divisions, with Pharmagest contributing €85.9 million (+4.7% like-for-like) and e-Connect showing significant growth of 36.6% to €7.5 million [7][16] - The recurring EBITDA margin slightly decreased to 25.7% from 26.1% in the previous year [4][6] - The net financial surplus increased by €19.2 million to €98.8 million, indicating a strong financial position [6][22] Division Highlights - Pharmagest Division: Stable current operating profit of €14.1 million, but a decrease in profit margin to 16.4% [8][9] - Axigate Link Division: Current operating profit remained stable at €4.4 million, with a margin decrease to 26.5% [13][15] - e-Connect Division: Current operating profit grew to €2.7 million, but the margin decreased to 36.0% [16][17] - Medical Solutions Division: Significant revenue growth of 29.1% to €5.1 million, with an improved margin of 6.7% [18][19] - Fintech Division: Experienced an operating loss of €0.3 million, with sales down 7.6% to €1.0 million [20] Strategic Developments - The company completed the acquisition of DIS and ResUrgences businesses, enhancing the Axigate Link Division's position in the public healthcare sector [23][24] - The estimated contribution of the acquired businesses to Group revenue is projected at 1.3% starting in Q3 2025 [25] - The company maintains its growth guidance of nearly 10% for H2 2025, driven by organic growth and contributions from recent acquisitions [26]