Arverne Group (ARVEN) H1 2025 earnings summary

Executive summary

• Gross business volume surged 74% year-over-year to €10.5 million in H1 2025, driven by deep drilling and geothermal projects, including Paris-Charles de Gaulle airport.

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

• Major operational milestones include the start of Lithium de France drilling, new heating & cooling contracts, and strategic partnerships.

• Bpifrance acquired a 4.3% stake, and a €40 million Series B fundraising was completed for Lithium de France.

• Average headcount increased by 45% 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.

• Net loss widened to €11.7 million from €9.5 million, mainly due to higher personnel costs and investments.

• Current EBITDA at -€11.4 million, reflecting ongoing investments and ramp-up phase.

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

• Net debt at -€60 million, or -€90 million excluding lease debt.

Outlook and guidance

• Targeting gross business volume of €25–30 million for 2025, representing 45–75% growth.

• Annual investment program to be maintained at approximately €50 million.

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