PRESS RELEASE
Toulouse, 19 September 2025 at 7 am
ACTIA GROUP
2025 H1 RESULTS
For the first half of 2025, ACTIA Group’s turnover reached €266.4m, down by 4.7%, due mainly to the expected slowdown in the Mobility Division, itself dropping by 9.6%. The Group’s other divisions however continued with their positive sales trends: +16.4% for Aerospace, +30.3% for Energy and +2.8% for Engineering Services, thus illustrating the pertinence of the diversification strategy put in place over the past few years. EBITDA for the first half of 2025 was €11.5m, representing an EBITDA margin of 4.3%. The change is a reflection of an unfavourable basis of comparison related to the one-off transactions of the first half of 2024, and the Group’s efforts to adapt its production facilities in France and abroad against a backdrop of increased competition and the transformation of its markets. These changes, financed mainly by the efforts made to reduce WCR, are part of a long-term approach based on sustainable performance and social dialogue, with the objective of securing the conditions needed for future growth due to the Group’s cumulative commercial successes, and with the whole being in line with its strategic roadmap. In a global economic environment that remains unsettled, the Group reconfirms its objective of stabilising turnover for the full year in 2025 at about the same level as in 2024.
| In € millions | H1 2025(3) | H1 2024 | Var (€m) | Var (%) | 2024 |
| Revenue | 266.4 | 279.5 | -13.1 | -4.7% | 535.1 |
| EBITDA (1) | 11.5 | 35.2 | -23.7 | -67 ;4% | 61.7 |
| as a % of revenue | 4.3% | 12.6% | – | – | 11.5% |
| Current operating income | (3.3) | 1.9 | -5.2 | N/A | (4,1) |
| as a % of revenue | -1.2% | 0.7% | – | – | -0.8% |
| Operating income | (3.2) | 21.6 | -24.8 | N/A | 32.3 |
| as a % of revenue | -1.2% | 7.7% | – | – | 6.0% |
| Financial result | (11.0) | (2.5) | -8.4 | N/A | (4.4) |
| Net income | (13.4) | 12,5 | -25.9 | N/A | 18.2 |
| as a % of revenue | -5.0% | 4.5% | – | 3.4% | |
| Free cash flow (2) | 18.2 | 21.8 | -3.5 | -16.3% | 51.4 |
| Debt/Equity (Gearing) | 110.1% | 116.4% | -6.3 pts | – | 98.2% |
(1) EBITDA: Net income + taxes + impairment of goodwill + interest and finance costs + depreciation +/- derivatives.
(2) Free cash flow: EBITDA – Taxes +/- changes in WCR – CAPEX.
(3) The interim financial statements for 2025 (1January to 30 June 2025) were approved by the Board of Directors at the meeting held on 17 September 2025.
H1 2025 CONSOLIDATED RESULTS
Details of revenue for the period and by division were provided in the press release of 5 August 2025.
For the first half of 2025, ACTIA’s consolidated turnover reached €266.4m, down year on year by 4.7%, due mainly to the performance of the Mobility Division, itself down by 9.6% to €215.5m, which represented 74.4% of Group sales. The drop in the production volumes of end customers led to a slowdown in sales, particularly badly affecting the Light Vehicles (-25.2%), Trucks (-11.9%) and Rail (-31.0%) segments. Sales in the Off Highway segment were down slightly by 1.7% and Others in line with mobility by 4.7%, while there was growth in the Buses & Coaches segment of 15.5%. The Aerospace Division enjoyed growth of 16.4% to achieve sales of €36.5m, with a positive trend for customers in the Aeronautics sector and the initial benefits of the integration of STEEL Electronique since 1 June 2024. The Energy Division achieved sales of €15.7m, an improvement of 30.3%, driven by the deployment of solutions for smart network management in France and in Africa. Indeed, the rapid progress being made by the business is leading to efforts to further structure the teams and working methods.
Finally, the Engineering Services Division enjoyed further growth of 2.8% to €18.9m, driven by new technological partnerships in France, especially in the areas of embedded systems for vehicles and the Software Defined Vehicle (SDV), offsetting the end of earlier contracts.
ACTIA adapts its spending to the uneven performance of its various divisions while preserving its ability to innovate, produce and service the future acceleration of its businesses. Given the economic context, its current operating income amounted to a negative €3.3m as opposed to a positive €1.9m at 30 June 2024, a swing of -€5.2m, reflecting both the current decline in activity in higher volume markets and transformational actions. ACTIA Group adapted its organisation, bringing about a reduction in headcount of 5.2% to 3,990 compared to 4,210 a year earlier. For the time being, these adjustments have created one-off expenses of €2.8m to which must be added €0.8m related to changes in scope. Although set to decline over the coming months, personnel costs of €86.8m are nevertheless temporarily up by 4.3%. The measures taken to address external charges had a more immediate effect, bringing them down by 5.1% to €1.8m.
In other areas, materials purchased was lower by 8.2%, meaning a consumption rate of 49.5%, compared to 51.8% for the first half of 2024, and benefiting from the considerable appreciation of the euro against the US dollar. Depreciation for the first half was €14.5m, compared to €13.4m for the same period in 2024. R&D expenditure reached €46.4m, equivalent to 17.4% of Group revenue, compared to 17.1% at 30 June 2024. The proportion of reinvoiced R&D represented 51.2% of the committed expenditure, as opposed to 49.0% at 30 June 2024, resulting from the progress made on developments prior to the start of production of the contracts won. Group operating income thus amounted to a negative €3.2m, compared to a positive €21.6m for the first half of 2024 (positive impact of the proceeds from the disposal of the solution developed in the field of the Software Defined Vehicle in March 2024).
Against this background, EBITDA for the first half of 2025 stood at €11.5m, representing a margin of 4.3%. The drop, notwithstanding the non-recurrence of the one-off transactions of 2024, was due mainly to the Mobility Division. The purpose of the changes made to the organisation of the production sites is to enable ACTIA to maximise the performance of its operations as soon as the programmes it wins are put into production.
The financial result for the first half of 2025 was a negative €11.0m, compared to a negative €2.5m for the same period in 2024. It includes interest charges of €4.6m, compared to €4.4m a year earlier which meant an average cost of debt rising to 4.53% from 4.00 at end June 2024. The change to the fair value of financial instruments was a negative €6.6m at 30 June 2025, as opposed to a gain of €1.8m for the same period in 2024. After taking into account tax of €0.7m, consolidated net income for the half amounted to a negative €13.4m, compared to a positive €12.5m at 30 June 2024.
DEBT, CASH & BALANCE SHEET
The Group produced free cash flow(2) (excluding hedging instruments) of €18.2m in the first half of 2025, compared to €21.8m for the same period in 2024.
ACTIA generated cash flow from operations of €18.6m over the period, with a variation in WCR of €14.4m thanks, in particular, to the actions taken to reduce inventories resulting in a saving of €15.5m over a year, along with the improvement in the organisation of the supply chain and the planning of requirements in cooperation with the customers.
The cash flow from investment activities consumed €11.0m, as opposed to generating €13.3m at end June 2024, including the proceeds from the disposal of an ACTIA software solution for embedded systems for vehicles and the cash from STEEL Electronique acquired in May 2024. Apart from the items specific to the 2024 financial year, this level is slightly lower than in the past as a result of the resource allocation decisions made to maintain investments in a difficult environment.
Net debt stood at €147.6m at 30 June 2025, compared to €150.1m at 31 December 2024, a decrease of €2.5m. Gearing for the period therefore equated to 110.1%, as opposed to 116.4% at end June 2024. During the first half of 2025, ACTIA raised new medium-term financing to the tune of €9.6m and repaid €24.8m. At 30 June 2025, closing cash amounted to €17.6m and available cash was €56.8m. 42.5% of its short-term lines of credit (excluding deconsolidating factoring) had been used at that date, compared to 44.1% at end 2024.
2025 OUTLOOK
In the current economic and geopolitical climate, ACTIA Group remains circumspect as to the outlook for the Mobility Division. The ongoing growth of the other 3 divisions (Aerospace, Energy and Engineering Services) should nevertheless make it possible to stabilise 2025 turnover at the same level as in 2024, namely about €535m.
ACTIA continues its efforts to adapt its production facilities as part of an overall rationalisation programme intended to align the organisation and its production capacities with the current realities of the market place while preserving the room for manoeuvre needed for a rapid recovery. The various sites and their organisation therefore continue to evolve to enhance their competitiveness and adapt to technological advances. This programme also goes hand in hand with even greater efforts to preserve cash and reduce inventories, as part of the ongoing initiatives undertaken with success in the previous year.
As a driver of innovation, ACTIA Group is quite naturally evolving towards Software Defined Vehicle technologies, artificial intelligence and eco-design, which is the Group’s main lever in its contribution to decarbonisation.
In 2026, the start of production for new families of products will further reinforce ACTIA Group’s growth trajectory towards its objective of revenue of €700m in 2028.
CHANGES TO GOVERNANCE
At its meeting held on 17 September, the Board of Directors of ACTIA Group proposed the appointment of two new directors, Denis Mercier (Independent Director) and Joëlle Pailloux (Family Director) at the next Annual General Meeting to be convened for 9 December 2025.
PUBLICATION OF THE 2025 INTERIM FINANIAL REPORT
The 2025 Interim Financial Report will be made available on 19 September 2025. It will be published on https://investors.actia.com/information-financiere/rapport-financier-semestriel/.
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ABOUT ACTIA
ACTIA Group is a mid-market company (ETI) founded in 1986. It is at once family-owned and international and its head office is located in France. The family aspect guarantees the long-term future of the Group and its independence with an ever-present entrepreneurial spirit. ACTIA’s business is to design and produce electronics to control systems in the particularly demanding fields of the automotive, rail, aeronautics, space, defence, energy and telecommunications industries.
The commitments made by ACTIA are reflected in the Group’s ambitious contributions to addressing societal issues: mobility, connectivity, safety and the environment. Control over the design and production of products bearing the ACTIA signature is a true guarantee of quality. All Group employees share this belief in quality in a fully certified environment.
KEY FIGURES
- 2024 turnover: €535.1m.
- Nearly 4,000 employees around the world, of whom more than 1,500 engineers and technicians working in R&D.
- Present in 17 countries.
- 14 to 18% of revenue reinvested every year in R&D.
STOCK EXCHANGES
- Euronext Growth Paris
- ISIN FR0000076655 – Mnemonic: ALATI Reuters: MRSP.PA – Bloomberg: AIELF: FP
- Indices: Euronext Growth All Shares – Euronext Tech Croissance – Euronext Helios Space
CONTACTS
ACTIA – Catherine Mallet – Tel: +33 (0)561 176198 – contact.investisseurs@actia.fr
CALYPTUS – Marie Calleux – Tel: +33 (0)153 656868 – actia@actus.fr
DATES FOR THE DIARY
- Presentation of HI 2025 results: Wednesday 1 October 2025 at 11:30 am by videoconference
- Q3 2025 turnover: Wednesday 19 November 2025 (7 am)