Arverne Group (ARVEN) H1 2025 earnings summary

Executive summary

• Gross business volume reached €10.5 million in H1 2025, up 74% year-over-year, driven by deep drilling and geothermal projects.

• Revenue doubled year-over-year to €9.1 million in H1 2025, supported by major drilling projects and increased activity in core segments.

• Major milestones include the start of Lithium de France drilling, Bpifrance joining the capital, environmental authorization for Lithium de France, and new strategic partnerships.

• Strengthened team with a 45% increase in average headcount to 226 employees as of June 30, 2025.

Financial highlights

• Consolidated revenue rose 104% to €9.1 million in H1 2025 compared to H1 2024, mainly from drilling services.

• EBITDA at -€11.4 million, with net loss widening to -€11.7 million, mainly due to higher personnel costs and investments.

• Net financial income was €0.6 million, down from €2.4 million YoY due to lower cash balances and interest rates.

• €11 million invested in H1 2025, mainly for Lithium de France and drilling equipment.

• Cash and cash equivalents at €97.5 million as of June 30, 2025, down from €123.8 million at year-end 2024.

Outlook and guidance

• Targeting gross business volume of €25–30 million for 2025, representing 45–75% growth, driven by geothermal projects and lithium drilling.

• Annual investment program to be maintained at €50 million, including start of Lithium de France drilling.

• First production and sales of heating & cooling expected in 2027, geothermal lithium in 2028.