m€ - IFRS
H1 2024
(6 months)
H1 2025
(6 months)
FY 2024
(12 months)
Revenue
57.5
57.2
117.7
Gross margin
32.2
32.0
64.5
As a %
56.1 %
55.9 %
54.8 %
Operating expenses
29.3
28.6
58.1
EBITDA1
8.2
7.5
18.0
As a %
14.3 %
13.1 %
15.3 %
Current operating income (EBIT)
3.0
3.4
6.5
Operating income
2.6
2.0
-5.0
Consolidated net income
1.5
-0.5
-7.0
1 EBITDA (Earnings before interest, taxes, depreciation and amortization) corresponds to current operating income restated for (i) amortization, depreciation and provisions, and (ii) income and expenses relating to share-based payments.
H1 2025 revenue: 57.2 m€Over H1 2025, Ekinops' revenue came to 57.2 m€, nearly identical to H1 2024 (-1% at constant scope and exchange rates).
Olfeo, the French provider of SSE (Secure Service Edge) cybersecurity software, acquired at the end of May 2025 and consolidated since June 1st 2025, contributed 0.5 m€ to H1 2025 revenue.
Driven by several major equipment deployment projects in Europe, particularly in Germany, Optical transport equipment sales rebounded by +10% in H1 2025.
Access solutions sales declined by -7% over the same period, impacted by a -10% drop in France. The decline is solely concentrated on Ekinops' largest customer, which had recorded strong growth in 2024 (+21%). Access business activity, excluding Ekinops' largest customer, recorded double-digit growth in H1 2025.
Sales generated by Software & Services showed strong growth of +22%, driven by Ekinops' service offerings and the consolidation of Olfeo since June 1st, 2025. At ...