AdUX (ADUX) H1 2025 earnings summary

Executive summary

• Revenue for H1 2025 was €11.2M, down 8% year-over-year, mainly due to reduced activity in Belgium and France amid a challenging market.

• Despite the decline, performance marketing and drive-to-store campaigns helped outperform broader market trends.

• EBITDA reached €1.7M, a 5% decrease from H1 2024, with an EBITDA margin of 15.6% versus 15.2% last year.

• Net income for H1 2025 was €0.8M, compared to €1.1M in H1 2024.

Financial highlights

• Gross margin for H1 2025 was €5.1M, down 8% year-over-year.

• Operating profit was €1.2M, a decrease of €0.1M from H1 2024.

• Cost of indebtedness increased to €0.3M from €0.1M year-over-year.

• Cash and cash equivalents at June 30, 2025, were €1.2M, down from €1.97M at year-end 2024.

Outlook and guidance

• Strategy remains focused on cost control and adapting the commercial offering to maintain profitability.

• The group aims to sustain its EBITDA margin despite ongoing market uncertainty.

• Next financial announcement: annual results for 2025 in April 2026.