Moltiply Group (MOL) Q2 2025 earnings summary

Executive summary

• H1 2025 revenues rose 40.5% year-over-year to €301.7 million, driven by organic growth and the Verivox acquisition, with EBITDA up 37.5% to €77.3 million and EBIT up 50.5% to €48.8 million.

• Net income increased 9.5% to €21.9 million, impacted by higher interest and revaluation of put/call liabilities for minorities.

• Q2 2025 revenues were €168.9 million, up 55.4% year-over-year, with significant contribution from Verivox.

• Major acquisition of Verivox for €231.5 million completed in March 2025, expanding international presence.

• Disposal agreements for Centro Finanziamenti S.p.A. and 65Plus S.r.l. were reached, with results classified as discontinued operations.

Financial highlights

• Mavriq H1 2025 revenues were €165.0 million (+59.9% YoY), EBITDA €48.2 million (+61.8%), and EBIT €33 million (+75%).

• BPO & Tech H1 2025 revenues grew 22.6% to €136.7 million, EBITDA up 10% to €29.1 million, with margin dilution from business mix and new law effects.

• Net financial position as of June 30, 2025, was negative €467.3 million, deteriorating by €146.8 million since December 2024, mainly due to Verivox acquisition.

• Group EBITDA margin: 25.6% (vs. 26.2% in H1 2024); EBIT margin: 16.2%; Net income margin: 7.4%.

• Net cash from operating activities: €36.6 million in H1 2025.

Outlook and guidance

• Mavriq Division expects H2 2025 revenues and EBITDA to be in line with Q2 2025, with Verivox integration a key focus.

• BPO & Tech Division anticipates continued revenue and EBITDA growth, with positive trends in Mortgages, Lease, and Wealth, and stabilization in Real Estate and Claims.

• International revenue share now exceeds 50%, with further growth expected, especially in Spain and France.