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Making Science Group (MAKS) investor relations material
Making Science Group Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary31 Jul, 2025
Executive summary
Achieved record recurring EBITDA of €7.7M in H1 2025, with consolidated revenues up 40% year-over-year to €174.6M and gross margin up 2.7% to €36.7M, driven by core business strength and international expansion.
International business now represents 60% of Core Business revenues, with significant expansion in the US, Argentina, Brazil, Netherlands, and a JV in Germany.
Entry of a new shareholder with over 5% stake and successful hosting of the first Investor Day in Madrid.
Maintained strategic focus on profitability, cash flow, debt reduction, and operational efficiency, leveraging AI and proprietary technology.
Financial highlights
Consolidated revenue rose from €124.8M in H1 2024 to €174.6M in H1 2025 (+40%), with gross margin up 2.7% to €36.7M and recurring EBITDA up 5.7% to €7.7M.
Core business revenue up 43% year-over-year to €170.2M, with recurring EBITDA up 10% to €7.6M.
International segment revenue more than doubled (+105%) to €102.3M, with EBITDA up 34% to €2.5M.
Spain segment gross margin up 15% to €20.1M, recurring EBITDA stable at €5.1M.
Investments segment revenue declined 20% to €4.4M, with recurring EBITDA down 80% to €0.1M.
Outlook and guidance
On track to achieve 2025 guidance: revenue €350–370M, gross margin €79–83M, recurring EBITDA €17–18M.
As of H1 2025, 50% of revenue, 46% of gross margin, and 45% of recurring EBITDA guidance achieved.
Plan 2027 targets recurring EBITDA of €23–27M, implying a 20% CAGR from 2025–2027.
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Next Making Science Group earnings date
Q4 202518 Apr, 2026
Next Making Science Group earnings date
Q4 202518 Apr, 2026
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