Global Dominion Access (DOM) Q2 2025 earnings summary

Executive summary

• Organic growth reached 10% at constant currency in H1 2025, doubling the strategic plan target, driven by strong order intake and new contracts in diverse geographies.

• EBITDA margin reached a record 13.7% of revenue, supported by improved profitability and operational leverage.

• Strategic focus on high-margin activities, divestment from non-core and renewable assets, and international expansion in sustainability, technology, and energy transition sectors.

• Recurring net profit rose by 40% year-over-year, but reported net profit was impacted by a €14 million one-off non-cash valuation adjustment on Dominican Republic photovoltaic assets due to USD depreciation.

• Progress in internationalizing the circular economy strategy, with new service launches in the UK and Latin America.

Financial highlights

• Revenue for H1 2025 reached €538 million, with EBITDA at €73.8 million (+10% YoY) and margin at a record 13.7%.

• EBIT reached €38.6 million, up 4% on a comparable basis.

• Net income was €5 million, or €19 million excluding the €14 million Dominican Republic adjustment, representing a 40% increase year-over-year on a pro forma basis.

• Financial expenses decreased from €20 million to €15.2 million year-over-year.

Outlook and guidance

• Guidance for 2026 remains unchanged, with management confident in achieving targets due to strong organic growth and operational performance.

• Continued focus on capital allocation, investment opportunities, and international expansion in environmental, industrial, and decarbonization sectors.