Datalogic (DAL) Q2 2025 earnings summary

Executive summary

• H1 2025 revenue was €241.1M, down 1.5% year-over-year; Q2 revenue was €128.3M, down 3.7% from Q2 2024.

• Net loss for H1 was €0.8M, compared to a €9.3M profit in H1 2024, which included a one-off gain from a subsidiary disposal.

• Adjusted EBITDA for H1 2025 was €20.8M (8.6% margin), up from €15.5M (6.3%) in H1 2024; Q2 adjusted EBITDA was €14.0M (10.9% margin).

• Gross margin improved to 42.9% in H1 2025, up from 40.7% in H1 2024, driven by productivity gains.

• The period included the acquisition of Datema Retail Solutions AB, finalized on April 29, 2025.

Financial highlights

• Adjusted EBIT improved to €4.7M (1.9% margin) in H1 2025 from €0.1M in H1 2024.

• Gross operating margin rose to €103.4M (42.9% of sales) from €99.5M (40.7%).

• Operating expenses decreased in H1, with R&D expense at €32.9M (13.6% of sales), up year-over-year.

• Net financial debt increased to €18.3M as of June 2025, up from €9.5M at year-end 2024.

• Dividend of €0.12 per share approved, totaling €6.4M.

Outlook and guidance

• Full-year 2025 revenue is expected to be broadly in line with 2024, with slightly improved profitability, despite macroeconomic and geopolitical uncertainties.

• Growth anticipated in EMEA, especially in Mobile Computing, but continued FX headwinds and project timing uncertainty in the Americas.

• Management highlighted ongoing productivity improvements and positive product mix as drivers for margin expansion.

• Continued focus on R&D and innovation to support future growth.