Core Insights - Equasens Group reported H1 2025 revenue of €116.0 million, reflecting a 7.4% increase on a reported basis and a 6.4% increase like-for-like compared to H1 2024 [3][4][12] Revenue Breakdown - Revenue from the Pharmagest Division was €85.9 million, up 4.7%, accounting for 74.1% of total revenue [9][10] - The Axigate Link Division reported revenue of €16.5 million, an increase of 6.7%, representing 14.2% of total revenue [10][11] - The e-Connect Division saw significant growth, with revenue of €7.5 million, up 36.6%, contributing 6.5% to total revenue [11] - The Medical Solutions Division generated €5.1 million in revenue, a 29.1% increase, with a 2.2% like-for-like growth [12] - The Fintech Division experienced a decline, with revenue of €1.0 million, down 7.6%, accounting for 0.9% of total revenue [15] Revenue by Activity Type - Configurations and hardware sales increased by 9.9% to €47.1 million, driven by strong performance in Pharmagest and e-Connect [7][8] - Maintenance and subscriptions grew by 5.5% to €51.4 million, benefiting from customer loyalty and SaaS offerings [8] - Software and services revenue rose by 6.4% to €17.4 million, supported by license sales and new deployments [8] Geographic Performance - In France, total business activities grew by 3.4% to €74.0 million, with notable growth in electronic labels and pharmacy automation solutions [13] - Italy saw a 16.5% increase in sales to €7.7 million, attributed to the opening of new pharmacies [13] - Germany's sales rose by 11.2% to €3.0 million, driven by medication adherence solutions [13] - Belgium confirmed a return to growth with a 6.4% increase to €1.2 million [13] Strategic Developments - The acquisition of CALIMED SAS contributed €1.1 million to the Medical Solutions Division's revenue [5] - On July 1, 2025, Equasens Group acquired Novaprove and DIS, enhancing the Axigate Link Division's offerings and adding over 300 public healthcare customers [16][17] - The integration of these acquisitions is expected to create synergies and strengthen the Group's position in the healthcare software market [21] Future Outlook - The Group anticipates continued growth in H2 2025, supported by positive commercial momentum across all divisions [18] - Investment efforts since 2024 are yielding results, with successful new software solutions being rolled out [20]