Equasens Société anonyme (EQS) Q1 2025 TU earnings summary

Executive summary

• Q1 2025 revenue reached €57.0m, up 6.9% year-over-year on a reported basis and 5.9% like-for-like, reflecting strong organic growth and successful integration of recent acquisitions.

• All major divisions except Fintech posted revenue growth, with notable rebounds in hardware sales and SaaS transformation driving performance.

Financial highlights

• Pharmagest division contributed €42.0m (73.7% of total), up 5.5% year-over-year, driven by equipment sales and innovative offerings.

• Axigate Link revenue rose 5.5% to €8.3m, supported by public funding and new contracts in Nursing Home and Homecare sectors.

• E-Connect surged 21.2% to €3.5m, benefiting from mobility solutions and national rollout of health insurance card app.

• Medical Solutions grew 25.1% to €2.7m, mainly from the CALIMED acquisition.

• Fintech declined 8.3% to €0.6m due to portfolio restructuring.

Outlook and guidance

• Continued investment in SaaS rollouts and organizational improvements expected to sustain growth throughout 2025.

• Strong order intake, especially in Pharmacy, supports confidence for Q2 growth.

• Ongoing focus on external growth opportunities in France and Europe.