Medios (ILM1) Q2 2025 earnings summary

Executive summary

• Revenue increased 9.3% to EUR 992 million in H1 2025, with all segments contributing and growth driven by both organic expansion and the Ceban acquisition.

• EBITDA pre rose 48.8% to EUR 46.3 million, with margin improvement to 4.7% from 3.4% year-over-year.

• EPS increased by 85.2% to EUR 0.50; adjusted EPS up 34.1% to EUR 0.96.

• Integration of Ceban completed, driving international growth and initial synergies, with further cross-selling and expansion planned.

• Shareholders approved all AGM resolutions, including a new remuneration system, stock option plan, and Executive Board changes.

Financial highlights

• Gross profit rose to EUR 101.1 million, with margin up to 10.2% from 6.7%.

• Net income nearly doubled to EUR 12.7 million despite higher depreciation and financing costs.

• Operating cash flow reached EUR 23.4 million, impacted by higher trade receivables.

• Free cash flow before M&A was EUR 20.5 million; cash and equivalents at EUR 87.8 million.

• Equity ratio improved to 57.0% from 54.6% at year-end 2024.

Outlook and guidance

• 2025 revenue expected at approximately EUR 2 billion (+6% year-over-year).

• EBITDA pre guidance of around EUR 96 million (+21.5%), with margin of about 4.8%.

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

• Free cash flow for the full year expected to be EUR 40–50 million.