STIF (ALSTI) H1 2025 earnings summary

Executive summary

• Revenue for H1 2025 rose to €36.7M, up 33% year-over-year, driven by strong growth in explosion protection and BESS segments.

• EBITDA increased 48% to €9.1M, with operating income up 77% to €8.4M.

• Net income surged 95% to €6.4M–€6.8M, with EBITDA margin at 24.9%–25.0%.

• Major acquisitions in 2025: StuvEx (Belgium), ISMA, and BOSS Products (USA), expanding presence in Europe, North America, and Asia.

• Expanded global footprint with new offices and strong international sales, especially in Asia.

Financial highlights

• Revenue for H1 2025: €36.7M, up 32–33% year-over-year.

• EBITDA: €9.1M (+48%), operating income: €8.4M (+77%), net income: €6.4M–€6.8M (+88–95%).

• Gross margin improved to 66.2% from 64.6% year-over-year.

• 87% of revenue generated outside France.

• Equity increased to €25.3M–€26.6M despite dividend payments; net cash at €9.7M as of June 30, 2025.

Outlook and guidance

• 2025 pro forma revenue expected at €100M; 2030 ambition set at €200M with EBITDA margin over 20%.

• FY 2025 revenue targeted at €74M (+20% vs. 2024), with continued focus on BESS and explosion protection.

• Growth strategy supported by acquisitions, group synergies, and strong profitability targets.