Equasens Société anonyme (EQS) H1 2025 earnings summary

Executive summary

• Revenue for H1 2025 reached €116.0m, up 7.4% year-over-year, driven by hardware, configuration sales, recurring revenues, and new software offerings.

• Net profit remained stable at €18.1m, with basic EPS at €1.14.

• Current operating profit increased slightly by 1.2% to €21.1m, with margin impacted by higher amortisation from infrastructure and R&D investments.

• Strategic investments continued across divisions, focusing on innovation, European expansion, and cloud infrastructure.

• Integration of CALIMED and exclusive negotiations for new software acquisitions strengthened the medical and hospital software portfolio.

Financial highlights

• Revenue: €116.0m (+7.4% year-over-year); organic growth 6.4%.

• Recurring EBITDA: €29.8m (+5.5%); margin 25.7%.

• Current operating profit: €21.1m (+1.2%); margin 18.2%.

• Net profit: €18.1m (flat year-over-year); net financial income €1.7m.

• Cash flow from operations after interest and tax was €24.8m, up from €20.87m in H1 2024.

Outlook and guidance

• Guidance maintained for nearly 10% reported revenue growth in H2 2025, driven by organic growth and recent acquisitions.

• Profitability expected to be temporarily impacted by ongoing investments.

• Strategic focus on technological innovation, European market expansion, and cloud services.

• Vigilance maintained regarding public policy decisions on healthcare reimbursement, which could impact the pharmacy sector.

• Integration of DIS and ResUrgences expected to drive synergies and performance in AXIGATE LINK from Q3 2025.