Catering International & Services (ALCIS) H1 2025 earnings summary

Executive summary

• Revenue grew by 19.8% at constant currency to €238.9M in H1 2025, driven by major contracts in Africa and Eurasia, while South America declined due to contract terminations.

• Net income attributable to the group surged by 145.9% year-over-year to €4.0M, reflecting improved profitability from new contracts and performance plans.

• EBITDA increased by 52.5% to €19.2M, with the margin rising to 8.1% from 6.3% in H1 2024.

• Major contract ramp-ups in Africa and Eurasia fueled business growth, now representing 54.7% and 42.0% of revenue, respectively.

Financial highlights

• Operating income rose 77.3% year-over-year to €12.6M.

• Net consolidated income reached €4.9M, up 90.4% year-over-year.

• Free cash flow generation improved by 38%, enabling a 28% reduction in bank debt.

• Equity stood at €67.6M and available cash at €40.0M as of June 30, 2025.

• Dividend distribution of €1.4M was approved in June 2025.

Outlook and guidance

• Performance plans and ramp-up of new contracts are expected to further enhance profitability and cash flow for the full year 2025.

• The medium-term revenue target is set at €500M, with a focus on commercial momentum, business development, and selective external growth.