GROUPE SFPI (SFPI) H1 2025 earnings summary

Executive summary

• H1 2025 revenue was €306.1 million, down 10.4% year-over-year, with international sales at 48% and 45% of employees based outside France.

• Operating income dropped to €0.3 million (0.1% margin) from €13.2 million, mainly due to lower sales and asset impairments.

• Net income was nearly breakeven at €0.1 million, compared to €9.9 million in the prior year, with EPS at €0.00.

• All divisions improved gross margins despite lower volumes, supported by cost controls and operational adjustments.

Financial highlights

• Sales declined by €35.5 million year-over-year, with construction down 5% and industry down 24%.

• EBITDA fell to €16.8 million (5.5% of sales) from €25.6 million (7.5%).

• Recurring operating income dropped to €5.0 million (1.6% of sales) from €13.4 million (3.9%).

• Net cash position at €128.3 million and net financial surplus at €67.4 million as of June 2025.

• Cash and equivalents at period end were €135.0 million, down from €145.9 million at year-end 2024.

Outlook and guidance

• Full-year 2025 revenue is forecast at €615 million, down from €666 million in 2024.

• Management expects H2 recovery in key divisions due to a strong order book and ERP stabilization.

• Ongoing uncertainty persists in the French building sector.