Core Insights - Quadient reported EUR 248 million in revenue for Q3 2025, reflecting a 3.5% organic decline year-on-year [2] - The company's digital segment experienced a 9.2% organic growth, driven by sustained subscription growth across all regions [2] - The Lockers business showed double-digit subscription revenue growth, fueled by increasing customer adoption and modernization of locker networks in the U.S., Japan, and Europe [3] Business Performance - The Mail segment remained consistent with previous quarter trends, with expectations for a rebound in U.S. hardware sales in Q4 [3] - Quadient's digital SaaS-based intelligent automation platform is ranked 1 worldwide for customer communication management, holding an 11% market share according to the latest IDC ranking [4]

Core Insights - Quadient reported strong performance in Digital and Lockers, with both segments achieving double-digit growth in subscription-related revenue, now constituting 40% of total subscription revenue [3][4] - The company confirmed its FY 2025 guidance, anticipating year-on-year EBITDA margin improvement in Digital and Lockers, while Mail performance remained stable [3][5] Financial Performance - For the first nine months of 2025, Quadient's consolidated revenue was €765 million, reflecting a 3.1% organic decline and a 4.0% decrease on a reported basis compared to the same period in 2024 [4][6] - Q3 2025 revenue was €248 million, down 3.5% organically and 5.6% on a reported basis compared to Q3 2024 [4][8] - Subscription-related revenue reached €569 million, accounting for 74% of total sales, with a 0.8% organic increase compared to 9M 2024 [6][10] Segment Performance Digital - Digital revenue for 9M 2025 was €206 million, up 7.9% organically, driven by a 10.0% growth in subscription-related revenue [10][11] - In Q3 2025, Digital revenue grew by 9.2% organically, supported by strong subscription growth across regions [11][12] Mail - Mail revenue for 9M 2025 was €476 million, down 9.0% organically and 11.2% on a reported basis [15] - Q3 2025 Mail revenue declined 9.8% organically, primarily due to a drop in hardware sales [16][17] Lockers - Lockers revenue reached €84 million in 9M 2025, reflecting a 9.4% organic increase [20] - Subscription-related revenue in Lockers grew by 16.1% organically in 9M 2025, with a significant acceleration to 17.6% in Q3 2025 [21][22] Geographic Performance - North America, which accounts for 58% of revenue, saw a 3.7% organic decline, largely due to a low mail equipment renewal cycle [7][35] - Main European countries experienced a 3.2% organic decline, while the International segment grew by 1.2% organically [7][35] Strategic Developments - Quadient was ranked No. 1 in Customer Communications Management (CCM) by IDC, holding an 11% market share [4][12] - The company announced the acquisition of CDP Communications to enhance its CCM capabilities, expected to positively impact Digital EBITDA margins [13][14]

Core Insights - Quadient S.A. reported a consolidated sales of €517 million for H1 2025, reflecting a decline of 3.2% on a reported basis and 3.0% organically compared to H1 2024 [5][7] - The company demonstrated resilience with stable current EBIT of €60 million and an EBIT margin of 11.5% despite challenges in the US mail market [3][7] - Digital and Lockers segments showed strong performance, with Digital achieving €137 million in revenue (up 7.2% organically) and Lockers reaching €55 million (up 11.2% organically) [9][21] Financial Performance - H1 2025 consolidated revenue was €517 million, down 3.2% reported and 3.0% organically, with a gross profit of €385 million and a gross margin of 74.4% [27] - EBITDA for H1 2025 was €109 million, a slight decrease from €111 million in H1 2024, with an EBITDA margin of 21.0% [28] - Current EBIT was stable at €60 million, with a current EBIT margin of 11.5% [29] Segment Analysis Digital - Digital revenue reached €137 million, with subscription-related revenue growing by 10.6% organically, accounting for 84% of total sales [11][12] - Annual recurring revenue (ARR) for Digital was €241 million, reflecting a 10.3% organic growth [12] - The segment added 1,100 new logo customers and saw significant cross-selling into Mail customers [13][14] Mail - Mail revenue was €325 million, down 10.3% reported and 8.6% organically, primarily due to a decline in hardware sales [16][19] - Hardware sales experienced a 17.5% organic decline, with North America contributing over 80% to this drop [16] - Despite lower revenue, Mail's EBITDA was €86 million, with an EBITDA margin of 26.6%, up from 25.8% in H1 2024 [20] Lockers - Lockers revenue reached €55 million, with a reported growth of 30.2% year-on-year, driven by the acquisition of Package Concierge [21] - Subscription-related revenue in Lockers increased by 15.3% organically, representing 65% of total revenue [21] - EBITDA for Lockers was €2 million, with a positive EBITDA margin of 3.6%, significantly improved from a negative margin in H1 2024 [23] Geographic Performance - North America accounted for 58% of revenue, experiencing a 3.5% organic decline, while Main European countries saw a 3.2% decline [8] - The International segment recorded a 2.0% organic growth, indicating resilience in markets outside North America and Europe [8] Outlook - The company anticipates sustained momentum in Digital and Lockers, with expectations for Mail performance to improve in the coming quarters [4][41] - FY 2025 guidance has been updated to reflect a low single-digit decline in organic revenue and a stable to low single-digit decline in current EBIT [7][45] - All 2030 ambitions remain confirmed, with a focus on maintaining strong profitability across segments [4][42]