REVO Insurance (REVO) H2 2025 earnings summary

Executive summary

• 2025 was a transition year with the appointment of a new board, launch of the 2026–2028 Strategic Plan, and a focus on value growth, AI integration, and ESG targets.

• Gross written premiums reached €398.1 million, up 28.9% year-over-year, reflecting robust growth across most business lines.

• Adjusted operating result was €48.4 million, with adjusted net profit at €28.6 million, both showing significant improvement from the prior year.

• Net profit increased 20.6% to €22.4 million, and a dividend of €0.27 per share is proposed, up 22.7% from the previous year.

• Strategic investments in technology, especially AI and the OverX platform, drove operational efficiency and service quality.

Financial highlights

• Insurance revenues rose 30.6% to €287.5 million year-over-year.

• Investment result grew 50.3% to €8.3 million, exceeding annual targets.

• Cost ratio improved to 17.6% (down 1.8 p.p.), and acquisition ratio remained stable at 17.0%.

• Gross combined ratio (COR) was 86.3%, slightly higher than 85.8% in 2024, but aligned with long-term targets.

• Shareholders’ equity increased to €263.8 million from €244.5 million.

Outlook and guidance

• New Strategic Plan 2026–2028, “THE TECHUMAN ERA,” emphasizes technology-driven, human-centric insurance solutions.

• 2026 premium guidance is around €450 million, with adjusted operating result expected at €55 million.

• Combined ratio targeted to gradually fall below 85% by 2028.

• Spain expected to contribute €17–20 million in 2026, with a 2028 target of €50 million (10% of group turnover).