Medios (ILM1) Q1 2025 earnings summary

Executive summary

• Revenue increased by 6.2% year-over-year to €484.7 million in Q1 2025, driven by international business and the consolidation of the Ceban Group.

• EBITDA pre rose 52.9% to €23.1 million, with margin improvement to 4.8% from 3.3% in Q1 2024.

• Net income grew 60% year-over-year to €6.4 million, with EPS up 47.1% to €0.25.

• CEO Matthias Gärtner to step down by end of 2025; COO Mi-Young Miehler will leave mid-2025 as part of executive board changes, with transition plans in place.

• Strategic focus shifted towards commercial and business development, leveraging synergies from the Ceban acquisition and expansion in Advanced Therapies.

Financial highlights

• Gross profit increased 80% to €49.8 million, with margin rising to 10.3% from 6.1% year-over-year.

• Operating profit (EBIT) rose 88.5% to €12.3 million.

• Operating cash flow at €3.6 million, impacted by net working capital effects and down from €43.4 million year-over-year.

• Cash and cash equivalents at €89.2 million.

• CapEx more than doubled to €1.2 million.

Outlook and guidance

• Full-year 2025 guidance confirmed: revenue expected at approximately €2 billion (+6%), EBITDA pre at €96 million (+21.5%), with a margin of 4.8%.

• Organic growth anticipated in the mid-single-digit percentage range, with full-year Ceban Group consolidation.

• Estimated annual future free cash flow of €40–50 million; €30–40 million available for debt redemption.