2025 Half-Year results

• H1 25 Net sales of €m 1,275, -9.4% vs. H1 24, -9.1% like for like
• Q2 25 revenues of €m 675, -6.5% vs. Q2 24
• Q2 25 order intake on equipment of €m 450 vs. €m 86 in Q2 24
• End of Q2 25 order book on equipment at €m 1,045 vs. €m 1,344 in Q2 24
• Recurring operating income at €m 64.9 (5.1%) vs. €m 127.5 (9.1%) in H1 24
• Net income at €m 32.7 vs. €m 81.8 in H1 2024
• EBITDA restated from IFRS 16 at €m 98.8 (7.7%) vs. €m 159.8 (11.4%) in H1 24
• Net debt at €m 299, down €m 71 vs. December 31, 2024, gearing(4) at 32%, leverage at 1.49
• Confirmation of an anticipation of stable 2025 revenue compared to 2024 and a recurring operating profit margin of approximately 5.5% of revenue for 2025. However, the recent U.S. tariff announcement could lead to significant and difficult-to-anticipate market changes.

In a degraded environment, activity in the first half of 2025 shows a decline compared to a particularly dynamic first half of 2024, in line with our expectations. However, the volume of order intakes is increasing, as well as our market shares, reflecting the commitment of our teams to expand our offer and better meet the needs of our customers. This momentum is particularly visible in Europe, driven by a decrease in interest rates and inflation.

Michel Denis, President & CEO