Hexaom (ALHEX) H1 2025 TU earnings summary

Executive summary

• First-half 2025 revenue reached €305.4M, down 26.8% year-over-year, reflecting a low production cycle in line with expectations.

• Commercial momentum remained strong across all business lines, with significant order intake growth in Construction and Intermediated activities.

Financial highlights

• Q2 2025 revenue was €160.8M, a 17.6% decrease compared to Q2 2024; H1 2025 revenue was €305.4M, down 26.8% year-over-year.

• At constant scope, H1 revenue declined 32.5% year-over-year.

• Construction of Houses revenue fell 34.4% to €236.3M; Renovation dropped 21.6% to €20.3M; Promotion grew 65% to €40.6M.

Outlook and guidance

• 2025 revenue expected to decline by about 10% (non-constant scope), with operating margin above 3%.

• Diversification expected to represent over 25% of activity for the year.

• Measures taken during the sector crisis support resilience and ability to rebound as the market improves.