Delta Plus Group (ALDLT) H1 2025 earnings summary

Executive summary

• Revenue for H1 2025 was €187.8M, down 3.2% year-over-year, with a 1.9% decline at constant scope and exchange rates.

• Operational profitability declined due to lower absorption of fixed costs, but gross margin was maintained at 2024 levels.

• Net income fell to €11.3M, a 7.8% decrease from H1 2024, impacted by lower operating results and adverse currency effects, partially offset by a lower effective tax rate.

• The financial structure remains solid, with robust leverage ratios and equity of €257.4M.

Financial highlights

• Operating income was €20.1M (10.7% of revenue), down from €24.2M (12.5%) in H1 2024.

• Net income attributable to the group was €10.7M, down from €12.1M year-over-year.

• Gross margin was stable, but personnel costs rose 4.2% and fixed costs were nearly flat.

• Non-recurring items normalized to -€0.2M in H1 2025, down from -€1.4M in H1 2024.

• Effective tax rate dropped to 21.9% from 33.6% due to the absence of prior year non-recurring items.

Outlook and guidance

• The group aims to limit macroeconomic impacts in 2025 and maintain gross margin at 2024 levels.

• Financial solidity will be preserved, with continued focus on innovation and operational improvement.

• External growth is expected, with acquisitions anticipated within the next twelve months.

• 2025 is expected to see a limited revenue decline at constant scope and exchange rates.