Medios (ILM1) Q3 2025 earnings summary

Executive summary

• Revenue for the first nine months of 2025 increased by 9.2% to €1.53 billion, with Q3 2025 reaching a record €538 million.

• EBITDA pre rose 26.1% to €70.4 million, with margin expanding to 4.6%; organic EBITDA pre growth was 5.1% across all segments.

• EPS surged 84% to €0.79; adjusted EPS reached €1.50, up nearly 26%.

• Net income nearly doubled to €19.9 million.

• New CEO, Thomas Meier, will take office in February 2026; Janus Henderson became a major investor with a 6.4% stake.

Financial highlights

• Gross profit increased 41.3% to €151.5 million, with gross margin up 2.2 points to 9.9%.

• EBIT rose 57.8% to €35.2 million; net income margin improved to 2.3%.

• Operating cash flow up 91.1% to €52.7 million; free cash flow before M&A nearly doubled to €47.9 million.

• Cash and cash equivalents at period end were €93.4 million.

• Equity ratio at 55.2% as of September 2025.

Outlook and guidance

• 2025 guidance confirmed: revenue expected at €2.0 billion (+6%), EBITDA pre at €96 million (+21.5%), and margin of about 4.8%.

• Organic growth anticipated in the mid-single-digit percentage range.

• Guidance assumes full-year consolidation of the Ceban Group.