Bilendi (ALBLD) H1 2025 earnings summary

Executive summary

• Achieved record results in H1 2025, with historic EBITDA margin of 20.6% (+1.9 pts year-over-year).

• Revenue grew 42.2% to €43.6 million, driven by the Netquest acquisition and international expansion.

• International sales now represent 84% of revenue, up from 77% in H1 2024.

Financial highlights

• EBITDA rose 56.8% to €9.0 million; adjusted operating profit up 86.7% to €5.2 million.

• Adjusted net income attributable to the group increased 24.6% to €2.4 million.

• Operating cash flow reached €4.7 million (11% of revenue), up 10% year-over-year.

Outlook and guidance

• Targeting €100 million consolidated revenue by 2026 with an EBITDA margin between 20% and 25%.

• Confident in continued growth, supported by new product launches and panel expansion.