Hunyvers (ALHUN) Q1 2025 TU earnings summary

Executive summary

• Revenue for Q1 2024-2025 was €26.1M, stable year-over-year (-0.1%), in line with expectations amid persistent overstocking.

• Organic sales declined by 1.2%, with acquisitions contributing €0.3M.

• Operational focus remained on internal growth and synergy development across both VDL and Nautisme segments.

Financial highlights

• VDL segment revenue fell 1.4% to €24.4M, reflecting a 1.9% drop in new vehicle sales.

• Used vehicle sales were stable (-0.1%), while associated services declined 5.1% due to store conversions.

• Nautisme segment grew 24.8% consolidated (+2.3% organic) to €1.7M, despite seasonal weakness.

Outlook and guidance

• Full-year revenue expected to exceed €150M, representing growth of over 15%.

• Operating margin improvement anticipated, especially in the second half.

• Stock normalization and improved working capital forecasted by year-end.