Lepermislibre Société anonyme (ALLPL) H1 2025 earnings summary

Executive summary

• Online driving school experienced a 36% year-over-year revenue decline in H1 2025, mainly due to regulatory changes affecting CPF-funded candidates and reduced marketing spend.

• Gross margin improved to 38.8% from 37.0% year-over-year, driven by price adjustments and cost rationalization.

• Net loss widened to €1.48M from €1.12M in H1 2024, despite cost-cutting measures and staff reductions.

• Raised €728K in August 2025 to support liquidity and future growth, accompanied by the creation of a strategic committee.

Financial highlights

• Revenue: €4.72M (H1 2025) vs €7.38M (H1 2024), -36% year-over-year.

• Gross margin: €1.83M (38.8% of revenue) vs €2.73M (37.0%) year-over-year.

• Operating loss: €1.05M (H1 2025) vs €1.15M (H1 2024).

• Net loss: €1.48M (H1 2025) vs €1.12M (H1 2024).

• Cash at period end: €0.56M, down from €1.28M at end-2024.

• Negative working capital: -€1.58M, reflecting upfront payments from candidates.

Outlook and guidance

• Focus on self-funded candidates to reduce exposure to regulatory risk from CPF.

• Cost rationalization and marketing optimization expected to continue.

• New capital injection to support business continuity and growth initiatives.