Assystem (ASY) Q2 2025 TU earnings summary

Executive summary

• Consolidated revenue for H1 2025 reached €326.4m, up 8.3% year-over-year, with 4.7% organic growth led by international business.

• International operations drove growth, with revenue up 19.4% year-over-year, including 9.7% organic growth and a 10.1% boost from the Mactech Energy Group acquisition.

• Revenue from nuclear activities accounted for 76% of the consolidated total in H1 2025.

Financial highlights

• H1 2025 group revenue: €326.4m vs €301.3m in H1 2024 (+8.3% reported, +4.7% organic).

• France revenue: €193.0m (+1.8% year-over-year, all organic); International: €133.4m (+19.4% year-over-year, 9.7% organic).

• Q1 2025 group revenue: €166.3m (+7.8% reported, +3.5% organic); Q2 2025: €160.1m (+8.9% reported, +6.0% organic).

• Q2 2025 international revenue: €65.5m (+19.0% reported, +11.2% organic).

Outlook and guidance

• Full-year 2025 targets: organic consolidated revenue growth of around 5% and a stable EBITA margin.

• Guidance reflects ongoing economic and geopolitical uncertainties.