Core Viewpoint - Egide Group reported a slight revenue increase of 1% for the first half of 2025, reaching €15.6 million, with notable growth in specific segments and regions, particularly in thermal imaging and Europe [1][3][8]. Revenue Summary - Egide SA achieved €7.81 million in revenue, an 11% increase compared to €7.04 million in H1 2024 [2]. - Egide USA recorded €5.67 million, reflecting a 10% growth from €5.15 million in H1 2024 [2]. - Santier experienced a significant decline of 36%, with revenue dropping to €2.08 million from €3.24 million in H1 2024 [2]. Segment Performance - Thermal imaging revenue surged by 59%, reaching €6.80 million, up from €4.27 million in H1 2024, representing 44% of total revenue [7][9]. - Power segment revenue fell by 32%, down to €2.97 million from €4.35 million [7]. - RF/MW segment revenue decreased by 37%, dropping to €1.89 million from €3 million [7]. - New applications, including thermal batteries and firing systems, grew by 9%, now accounting for 14% of total revenue [10]. Geographical Breakdown - North America contributed €6.78 million, a 7% decline from €7.28 million in H1 2024, representing 44% of total revenue [11]. - Europe saw a 53% increase in revenue to €5.19 million from €3.4 million, now making up 33% of total revenue [11]. - Asia and the rest of the world experienced a 24% decline, with revenue falling to €3.61 million from €4.75 million [11][18]. Strategic Outlook - The company anticipates a slight revenue increase in H2 2025, indicating a gradual recovery compared to 2024, driven by a diversified customer base [12][13]. - Continued commercial investments are aimed at diversifying the customer portfolio and enhancing presence in strategic defense and aerospace markets [12][14].

Core Viewpoint - Egide Group has updated its 2024 financial statements following audit work, resulting in a restatement of the financial results under French GAAP instead of IFRS, with notable changes in revenue and net results [1][2][3]. Financial Results Summary - The updated 2024 revenue for Egide Group is €30.01 million, a decrease from the previously published €30.04 million, and down from €36.71 million in 2023 [3][4]. - The EBITDA (gross) for 2024 is reported at -€0.44 million, an improvement from -€0.49 million in the previous publication and -€1.02 million in 2023 [4]. - The operating result is -€2.02 million, slightly worse than the previously reported -€1.95 million, but an improvement from -€2.74 million in 2023 [4]. - The net result for the group is -€2.38 million, an improvement from -€2.48 million previously reported and -€3.07 million in 2023 [4]. Adjustments and Variances - Revenue adjustments include a decrease of €0.03 million for Egide SA due to deferred revenue adjustments [5][13]. - Personnel costs decreased by €0.15 million, primarily at Egide USA, from €3.9 million to €3.8 million [5][13]. - The exceptional result improved by €0.14 million, attributed to changes in the share of subsidies recognized in the income statement [8]. Auditor's Position - The statutory auditors have expressed reservations regarding the updated 2024 financial statements, leading to an inability to certify them [15]. - The main areas of uncertainty involve the availability of the 2024 annual financial report, which is scheduled for publication on June 30, 2025 [15][16]. Financial Calendar - The 2024 Annual Financial Report will be published on June 30, 2025, after the French market closure [17]. - Other key dates include the 2025 HY Revenue on July 30, 2025, and the 2025 HY Results on October 20, 2025 [17].

Core Insights - Egide Group reported a significant decline in revenue for fiscal year 2024, with a contraction of 18% to €30.04 million, while also showing an improvement in EBITDA, which, although still negative, decreased to -€0.49 million from -€1.02 million in 2023 [3][6][17]. Financial Performance - The consolidated net loss for Egide Group was reduced by 19%, from -€3.07 million in 2023 to -€2.48 million in 2024, attributed to improved performance at Egide SA and Santier [7][23]. - The Group's EBITDA improved by 52%, indicating effective restructuring and operational optimization measures despite lower sales [6][23]. - Revenue breakdown showed Egide SA with a decrease of €2.68 million (-15%), Egide USA down by €3.32 million (-29%), and Santier down by €0.66 million (-9%) [18][19]. Business Evolution - The decline in activity was influenced by reduced orders from a major customer of Egide SA, geopolitical issues affecting sales in China, and operational challenges faced by Egide USA and Santier [4][5]. - The second half of 2024 indicated signs of recovery, particularly for Egide SA and Santier [5]. 2025 Outlook - For 2025, Egide Group anticipates a return to revenue growth, supported by a higher order intake to billing ratio compared to the previous two years [8]. - The Group is focusing on opportunities in the Defense and Aerospace markets, driven by geopolitical factors and potential growth in local production due to protectionist policies [9][11]. Changes in Accounting Standards - The financial results for 2024 are presented according to French GAAP, marking a shift from international IFRS standards, with comparative data for 2023 also restated for consistency [15][16]. Balance Sheet Highlights - Shareholders' equity decreased by €0.87 million (-12.6%) to €6.04 million, primarily due to the net loss for the year [24]. - Cash reserves fell by €1.35 million to €1.85 million, reflecting operational difficulties, particularly at Egide USA [25]. - Consolidated financial debt decreased from €10.20 million to €9.35 million, a reduction of €0.84 million, due to effective debt management [26].