Antares Vision (AV) Q1 2025 earnings summary

Executive summary

• Orders increased by 25% year-over-year in Q1 2025, driven by strong performance in Europe (+45%) and the Americas (+37%).

• Consolidated sales reached €40.3M, down 5% year-over-year, with growth in Europe (+5% to +24%) offset by a 13% decline in the Americas.

• Net financial position remained stable at €84M, reflecting improved margins and disciplined working capital management.

• FY 2025 guidance confirmed, with positive outlook supported by demand in Pharma and Food sectors.

Financial highlights

• Consolidated sales: €40.3M in Q1 2025, a 5% decrease compared to Q1 2024, mainly due to Life Science seasonality.

• New orders increased by €10M (+25% year-over-year), driven by Americas (+37%) and Europe (+45%).

• Recurring revenues (Services + SCT) grew 18% year-over-year, now 49% of total revenues vs. 39% in Q1 2024.

• Services business unit grew 22% year-over-year, now 29% of total revenues.

• Europe posted up to 24% year-over-year revenue growth, while Italy (-16%) and Americas (-13%) declined.

Outlook and guidance

• FY 2025 revenue growth expected at +7–9%, with adjusted EBITDA margin at 16–18%.

• Net Debt/EBITDA ratio forecasted between 2.2x and 2.0x for FY 2025.

• 2025–2027 plan targets revenue CAGR of 7–9%, EBITDA CAGR of 18–21%, and Net Debt/EBITDA below 1.0x by 2027.

• Focus on commercial excellence, efficiency, and cash generation; new CRO role introduced.