Core Insights - LACROIX's first-half revenue for 2025 was €291.5 million, reflecting a 12.3% decline on a like-for-like basis, primarily due to challenging conditions in the Electronics sector, although the Environment segment showed positive momentum [1][3][10] Revenue Performance - In Q2 2025, consolidated revenue was €140.4 million, down from €169.4 million in Q2 2024, marking a 17.2% decrease overall and a 14.2% decline on a like-for-like basis [2][4] - Electronics revenue in Q2 2025 was €105 million, down 19% from €129.7 million in Q2 2024, while Environment revenue grew by 4.1% to €35.4 million [4][5] - For the first half of 2025, Electronics revenue fell by 17.4% to €221.4 million, while Environment sales totaled €70.1 million, reflecting a 9.0% increase [4][9] Sector Analysis - The Electronics sector faced significant challenges, with declines across most segments, particularly in Automotive and Industry, while the Avionics & Defense segment experienced a temporary decline due to external factors [5][6] - The Environment segment continued to show strong growth, driven by Smart Grids and Water, despite a temporary decline in the Street Lighting segment [8][9] Future Outlook - A gradual improvement in Electronics performance is expected in the second half of 2025, particularly in EMEA, while North America will focus on finalizing the divestment of its subsidiary [7][10] - The full-year revenue target of €600 million is likely to be missed, but the EBITDA margin target of 4% remains achievable [11] - LACROIX plans to complete its exit from the North American market by the end of 2025 and will present its 2027 roadmap to investors on September 30 [12][13]

Core Viewpoint - LACROIX has announced its strategic decision to exit the North American electronics market by the end of 2025, aiming to eliminate losses and refocus on its core activities in Electronics EMEA and Environment [1][5][6] Group 1: Financial Performance - In Q1 2025, LACROIX's consolidated revenue was €151.1 million, a decline of 16.4% compared to €180.9 million in Q1 2024 [6][7] - The Electronics activity generated revenue of €116.4 million, down 15.9% year-on-year, while the Environment activity grew by 14.5% to €34.7 million [7][11] - The North American subsidiary employed 1,251 people and generated annual revenue of €141 million, which decreased by 15% [3] Group 2: Strategic Decisions - The decision to exit North America follows a deterioration in business outlook due to lost customer contracts and geopolitical tensions affecting demand [2][4] - The disengagement plan will be implemented immediately, with discussions with clients and suppliers to determine the best exit strategy, including potential sale or liquidation [4][5] - The exit is expected to reduce exposure to the automotive sector, which accounted for less than one-third of Group revenue in 2025, down from 44% in 2024 [5] Group 3: Future Outlook - LACROIX maintains its financial targets for 2025, expecting revenue around €600 million and a current EBITDA margin above 4% [13] - A presentation of the 2027 strategic roadmap is scheduled for September 30, 2025 [14]