Vantiva - Third Quarter 2025 Revenues

Core Insights - Vantiva reported a 7.9% year-over-year increase in revenues for Q3 2025, reaching €470 million, driven by strong demand in the broadband segment, although partially offset by foreign exchange impacts [6][10]. Financial Performance - Total revenue for Q3 2025 was €470 million, up from €436 million in Q3 2024, reflecting a 7.9% increase at current rates and a 13.3% increase at constant rates [4][10]. - For the first nine months of 2025, total revenue reached €1.331 billion, a 7.9% increase year-over-year at actual rates and a 10.8% increase at constant rates [4][10]. - Broadband revenues surged by 38% year-over-year to €366 million, while Video revenues fell by 44.3% to €74 million, and Diversification revenues decreased by 20.2% to €30 million [4][6]. Market Trends - The broadband business experienced strong demand, particularly in North America, but this trend is not expected to continue into Q4 2025 due to early customer orders in Q3 [7]. - Video demand is declining due to market trends in North America, Australia, and Korea, while Diversification activities are facing weaker demand in the retail sector [7]. Guidance and Outlook - Vantiva maintains its guidance for 2025 at the budget exchange rate, assuming stable component availability, with an adjusted EBITDA target of over €150 million [8][9][10].