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Circle (CIRC) investor relations material
Circle H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Production value reached €11.8 million in 1H 2025, up 62% year-over-year, driven by strong growth in proprietary products and federative services.
EBITDA rose 52% to €2.7 million, with a margin of 22.6%; net profit increased 2% to €1.1 million.
Integration of acquisitions (exyond, Circle Garage) and new product launches supported performance despite macroeconomic challenges.
Strategic contracts and international expansion, including new collaborations and tenders, contributed to growth.
Financial highlights
Revenues from sales and services grew 70% to €9.7 million compared to 1H 2024.
Proprietary software product sales increased 105% year-over-year; federative services up 80%.
EBITDA reached €2.7 million (+52%), EBIT adjusted €1.5 million (+15%), EBIT €1.2 million (stable), net profit €1.1 million (+2%).
Net financial debt at €0.8 million, with adjusted net financial debt (cash positive) at €2.2 million.
Investments in 1H 2025 totaled €1 million, mainly in intangible assets and product development.
Outlook and guidance
2025 production value guidance raised to €24–26.4 million; EBITDA expected at €5–5.7 million.
2026 production value forecast at €27–28.5 million, EBITDA at €6–7 million.
Strong demand anticipated from the PNRR Login Business call and regulatory changes (e-CMR, eFTI).
Focus on consolidating and expanding services to meet increased client demand.
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- DCH
Q3 2025 saw flat sales, higher margins, and strong cash flow as the Dowlais deal advances. - 6103
Strong sales growth and robust orders drive higher profits; outlook and dividend unchanged. - BERG
Q3 EBITA up 12% and margins improved, with strong acquisition activity and new divisional structure. - ALIF
Profitability and margins improved, debt reduced, and outlook for 2026 is strong. - 4475
Sales and ARR grew strongly, but higher costs and expenses pressured net profit and margins. - DEVYANI
Revenue increased but net losses persisted; major acquisitions and amalgamation approved. - DNB
Q4 2025 saw strong growth and high returns, but annual profit fell due to higher costs and impairments. - DNB
Q4 2025 profit NOK 11.6bn, 16.6% ROE, NOK 18 dividend, and strong CET1 at 17.9%. - PARADEEP
Revenue and profit surged on higher volumes, MCFL merger, and expansion, with regulatory changes noted. - 2454
Q4 2025 saw strong revenue growth but lower net income and margins amid rising costs.
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