Core Insights - HighCo has returned to business growth in Q3 2025, with a gross profit increase of 8.4% year-on-year, amounting to €15.63 million, while the reported basis shows a 5.3% decline [5][6] - The company forecasts over 10% growth for Q4 2025 and has adjusted its annual guidance to reflect slight growth in gross profit for the full year [5][20] - The acquisition of Sogec and BudgetBox at the end of September 2025 is expected to enhance HighCo's position in the promotions market and support growth in the Activation division [15][20] Business Growth in Q3 2025 - The Activation division experienced sustained growth, driven by strong performance in France, with Q3 growth of 7.9% and a 9-month year-to-date increase of 4.6% [6][7] - The Consulting & In-store media selling division rebounded with a 15.5% increase in Q3, although it remains down 19.2% year-to-date [6][16] - International businesses saw a significant decline, with Q3 gross profit down 20% to €1.72 million, and a 9-month decline of 13.3% [14][12] Financial Performance - For the first nine months of 2025, HighCo's gross profit totaled €46.59 million, reflecting a 3.2% decrease year-on-year [2][6] - The gross profit breakdown for France shows a 13.3% increase in Q3, totaling €13.92 million, while the 9-month total is down 1.6% [10][11] - The adjusted operating margin remains confirmed at higher than 12% [20][23] Acquisition Details - The acquisition of Sogec and BudgetBox aims to strengthen HighCo's market position and is expected to be fully consolidated starting Q4 2025 [15][17] - The integration of these companies is currently in progress, with financial impacts to be disclosed in March 2026 [17][20] CSR Performance - HighCo has renewed its EcoVadis Gold medal for the 10th consecutive year, achieving a score of 78 out of 100, placing it among the top 5% of companies assessed [18][21] - The company is committed to sustainability and has developed a strategic roadmap titled "Impact 2030" [19][21]