Eezy (EEZY) Q2 2025 earnings summary

Executive summary

• Revenue declined 21% year-over-year in Q2 2025 to €36.2M, with H1 2025 revenue down 20% to €69.9M, reflecting market conditions and lower demand post-TE reform.

• Profit improvement program is progressing, targeting over €4M in annual savings, with 45 employment relationships terminated and further cost cuts planned.

• New AI-assisted ERP system fully implemented, enhancing digitalization and operational efficiency.

• CEO and CFO transitions occurred in Q2, with a new CEO and acting CFO appointed.

• No financial guidance provided for 2025.

Financial highlights

• Q2 2025 revenue: €36.2M (-21% YoY); H1 2025 revenue: €69.9M (-20% YoY).

• Q2 2025 EBITDA: €1.5M (4.2% margin); EBIT: -€0.4M (-1.2% margin); EPS: -€0.04.

• Q2 2025 included €1.0M in one-time costs, mainly related to employment terminations.

• Net cash flow from operating activities in Q2 2025 was €3.7M, up from €1.5M in Q2 2024.

• Net debt/EBITDA increased to 6.2x from 4.7x year-over-year.

Outlook and guidance

• Economic climate remains uncertain, with customers cautious about labor needs and investments.

• Performance improvement program expected to yield €4M in annual profit improvement, with effects starting in H2 2025.

• No financial guidance issued for 2025.