Planetel (PLN) H1 2025 earnings summary

Executive summary

• Revenue for the first half of 2025 increased by 5% year-over-year to €19.41 million, with recurring revenues representing 91% of the total and a churn rate between 4.8% and 5.8% annually.

• EBITDA reached €4.51 million (22% of production value), while net income was €301 thousand (1% of production value), impacted by higher interest rates and amortization from acquisitions.

• Value of production reached €20.68 million (+5% YoY).

• The group completed the merger of Net-Admin Srl and acquired the business branch of Areatech, adding about 700 business clients.

• Investments focused on fiber network expansion and a new data center in Padua, with total capex of €4.1 million in H1 2025.

Financial highlights

• Revenue: €19.41 million (+5% YoY); EBITDA: €4.51 million (22% margin); EBIT: €0.9 million (4% margin); Net income: €301 thousand (-48% YoY).

• Net financial position: €16.81 million negative, stable compared to December 2024.

• Cash and equivalents at period end: €8.71 million, up from €4.28 million at year-end 2024.

• Dividend of €0.12 per share distributed in April 2025, totaling €789,570.

• Net equity stood at €20.8 million, down from €21.6 million at year-end 2024.

Outlook and guidance

• Ongoing investments in fiber and cloud infrastructure, with the Padua data center expected to be completed in late 2026.

• Integration of acquired businesses and operational streamlining expected to yield cost efficiencies in H2 2025.

• Revenue growth is forecast to remain strong, supported by customer loyalty and infrastructure expansion.

• New agreements in the wholesale market and expansion into cybersecurity and IT services are expected to drive future value.

• No direct exposure to Russia/Ukraine or Israel/Palestine conflicts.