Administer (ADMIN) Q1 2025 earnings summary

Executive summary

• Profitability improved by over 17% year-over-year, with EBITDA up 17.4% to €2.0 million and margin rising to 10.7% from 9.1%, while revenue/net sales remained stable at €19.0 million despite challenging market conditions.

• Operating profit increased to €0.5 million (2.9% margin), up from €0.2 million (1.3%) year-over-year, despite continued goodwill amortization from acquisitions.

• Silta's payroll and HR services grew net sales by 0.8%, while Econia and the accounting firm business saw declines due to weak economic conditions and integration challenges.

• The group continued strategic business development, investing in process improvements, partnerships, and AI-driven efficiency.

• Goodwill amortization from acquisitions totaled -€1.0 million.

Financial highlights

• Q1 2025 revenue/net sales was €19.0 million, unchanged from Q1 2024.

• EBITDA was €2.0 million (10.7% margin), up 17.4% year-over-year.

• Operating profit reached €0.5 million (2.9% margin), up from €0.2 million (1.3%) year-over-year.

• Adjusted operating profit (excluding goodwill amortization): €1.6 million, margin 8.3%.

• Earnings per share: €0.02 (up from -€0.00 year-over-year).

Outlook and guidance

• Revenue/net sales guidance for 2025 is €72–78 million, with an EBITDA margin of 7–10%.

• Targeting continued growth investments and both organic and inorganic expansion in 2025.