Reply (REY) Q2 2025 earnings summary

Executive summary

• Revenue for H1 2025 reached €1,210.1 million, up 8.6% year-over-year, with all key indicators positive.

• EBITDA increased by 23.9% to €223.7 million, with margin improving to 18.5%.

• EBIT climbed 28.5% to €188.4 million, with a margin of 15.6%.

• Net profit rose 23.2% to €124.8 million, with a net margin of 10.3%.

• Growth driven by focus on AI, data management, and cloud, with continued investment in agentic AI, silicon shoring, and pre-built AI applications.

Financial highlights

• H1 2025 revenue: €1,210.1 million (+8.6% YoY); Q2 2025 revenue: €606.7 million (+8.3% YoY).

• EBITDA: €223.7 million (18.5% margin), up from €180.5 million (16.2%) in H1 2024.

• EBIT: €188.4 million (15.6% margin), up from €146.6 million (13.2%) in H1 2024.

• Net financial position improved to €362.5 million as of June 30, 2025, up from €349.1 million at year-end 2024.

• Operating cash flow for H1 2025 was €129.2 million, up 12.4% year-over-year.

Outlook and guidance

• Revenue and profitability growth expected to continue, supported by strong segment performance and margin expansion.

• Confident in continued growth for H2 2025, with strategy centered on AI, data, and cloud.

• Planned investments in agentic AI, silicon shoring, and pre-built AI applications to support scalable, autonomous ecosystems.

• Focus on building distributed AI architectures integrated into business processes.