Morefield Group (MORE) H2 2025 earnings summary

Executive summary

• Revenue grew from €106.9 million in 2024 to €162.3 million in 2025, driven by Kersten's growth and the consolidation of Naviva Kraamzorg from June 2025.

• EBITDA increased from €17.8 million to €26.3 million year-over-year; net profit rose from €2.3 million to €4.2 million.

• The acquisition of Naviva Kraamzorg in May 2025 expanded the healthcare portfolio and diversified risk.

• Kersten's strong performance and Naviva's partial-year contribution were key to the improved results.

Financial highlights

• Revenue: €162.3 million in 2025 (2024: €106.9 million), up 52%.

• EBITDA: €26.3 million (2024: €17.8 million), up 48%.

• Net profit: €4.2 million (2024: €2.3 million), up 83%.

• Earnings per share: €0.067 (2024: €0.038).

• Solvency ratio: 16.4% (2024: 23.7%).

• Cash flow from operations: €18.8 million (2024: €9.8 million).

Outlook and guidance

• Further revenue and profit growth expected in 2026, with full-year consolidation of Naviva Kraamzorg.

• Continued expansion and investment in both Kersten and Naviva anticipated.