Solocal Group (LOCAL) Q1 2025 TU earnings summary

Executive summary

• Q1 2025 group revenue reached €82.9 million, down 0.5% year-over-year, with Regicom contributing €11.0 million.

• Order backlog increased to €215.8 million as of March 31, 2025, up from €209.6 million at year-end 2024.

• Transformation initiatives underway include sales reorganization, product simplification, and IT upgrades, aiming for profitable growth.

• PagesJaunes audience grew 13% in 2024, supporting recurring revenue and digital presence.

Financial highlights

• Revenue on a like-for-like basis (excluding Regicom) declined 13.7% year-over-year in Q1 2025.

• Q1 2025 sales performance (order intakes) rose to €88.2 million from €81.6 million in Q1 2024.

• Renewal order intakes were €53.2 million, slightly down from €54.0 million, while acquisition order intakes increased to €34.9 million from €27.6 million.

Outlook and guidance

• 2025 revenue stabilization objective confirmed, leveraging full-year Regicom integration.

• Cost control measures intensified to restore EBITDA margin to around 15% for the full year.