BOA Concept (ALBOA) H1 2025 earnings summary

Executive summary

• Revenue for H1 2025 rose 22% year-over-year to €10.89M, with 56% generated outside France, reflecting strong international expansion and successful integration of Easy Systems.

• Maintained growth outlook with intensified international expansion, especially in North America and Benelux, to offset domestic market sluggishness.

• Continued investments in R&D and innovation, particularly in robotics and AI, to enhance intralogistics solutions, with investments temporarily impacting profitability.

• Strategic acquisitions and new subsidiaries, including Easy Systems and Roboptic, support global ambitions and technological leadership.

• Workforce reached 140–142 employees, with over 300 client sites equipped across Europe, North America, and Asia.

Financial highlights

• Revenue for H1 2025 reached €10.9M, up from €8.9M in H1 2024, with EBITDA improving to between -€1.58M and -€1.40M, and net income (group share) at -€1.55M, improving from -€1.69M.

• Operating income was -€2.14M (19.7% of revenue), an improvement from -€2.52M (28.2%).

• Cash position at period end was €7.07M, with net cash position reported at €5.9M.

• Total equity (group share) at June 30, 2025, was between €13.7M and €13.83M.

• Total assets stood at €30.53M; financial debt at €8.75M.

Outlook and guidance

• Strategic focus on international expansion, especially in Canada, Morocco, and Benelux, with commercial activity slowed in France due to political uncertainty.

• Ongoing innovation in robotics and AI, with new product launches expected and continued R&D investments.

• Management remains vigilant regarding inflation, energy prices, and geopolitical risks, with cost optimization and agile business model expected to support growth.