Delta Plus Group (ALDLT) Q2 2025 earnings summary

Executive summary

• H1 2025 revenue was €187.8M, down 3.2% year-over-year, with a 1.9% decline at constant scope and exchange rates.

• Recovery outside Europe accelerated in Q2 2025, despite ongoing global uncertainty.

• Operational profitability decreased due to lower absorption of fixed costs, but gross margin was maintained at 2024 levels.

• Net income fell to €11.3M, a 7.8% decrease from H1 2024, impacted by lower operating results and adverse currency effects.

• The group remains focused on long-term strategy and resilience amid macroeconomic and geopolitical challenges.

Financial highlights

• Operating income was €20.1M (10.7% of revenue), down from €24.2M (12.5%) in H1 2024.

• Net income attributable to the group was €10.7M, down 12.1% year-over-year.

• Scope effect added €3.2M (+1.6%), while currency effect subtracted €5.6M (-2.9%).

• Gross margin was stable, but personnel costs rose 4.2% and fixed costs were nearly flat.

• Non-recurring items were -€0.2M, returning to a normative level after higher charges in H1 2024.

Outlook and guidance

• The group aims to limit macroeconomic impacts in 2025 and maintain gross margin at 2024 levels.

• Activity expected to remain stable excluding currency effects, with a focus on matching 2024 revenue levels.

• Financial solidity will be preserved, with continued focus on innovation and operational improvement.

• External growth is expected, with potential acquisitions in the next 12 months.

• No significant perimeter changes anticipated, but targeted acquisitions remain a priority.