Equasens

Latest Results (09.12.2025):

Equasens — Full‑year 2024 results (year ended 31 December 2024): revenue of €216.8m (-1.4% reported vs. 2023), Current Operating Income (COI) €45.1m (-19.2%), and net profit attributable to Group shareholders €36.2m (-23.0%). Despite lower top‑line and earnings versus 2023, margins remained high (COI/Revenue 20.8% for the year) and the Group closed 2024 with a strong financial surplus of €79.5m; the Board proposes a €1.25 gross dividend and targets a return to ~10% revenue growth in 2025 driven by AI and new SaaS offerings.

Key headline numbers

Revenue: €216.8m (-1.4% reported). COI: €45.1m (-19.2%). Net profit attributable to owners: €36.2m (-23.0%). Cash flow after tax and interest: €46.9m. Financial surplus: €79.5m (stable vs. €79.3m at 12/31/2023).

Profitability & margins

COI/Revenue was 20.8% for FY 2024 (H1: 19.3%; H2: 22.3%), showing margin resilience and improvement in H2 despite first‑half economic headwinds and ongoing investment.

Division performance

Pharmagest: revenue and COI declined (COI/Sales 18.8% for 2024; improvement to 20.4% in H2). Axigate Link: strong profitability (COI/Sales 31.8%; 34.8% in H2). e‑Connect: COI fell with sales (COI/Sales 42.9%). Medical Solutions: transition year with investments (COI/Sales 2.2%, 4.4% H2). Fintech: deterioration after a contributor default and a €0.5m impairment provision (COI/Sales negative).

Balance sheet & cash use

Group invested heavily in R&D, IT and external growth (€21.1m) and reduced debt (€12.6m) while maintaining a €79.5m financial surplus. IFRS16 lease liabilities and minority put options are recorded under "Other liabilities".

Capital allocation & shareholder return

The Board will propose a gross dividend of €1.25 per share for 2024 at the AGM (25 June 2025). Cash generation also funded R&D, infrastructure and acquisitions (DIGIPHARMACIE 70% in Jan 2024; CALIMED 90% in Dec 2024).

2025 outlook & strategy

Equasens expects to return to revenue growth of close to 10% in 2025, driven by AI (e.g., LOQUii, id. genius), new cloud/SaaS recurring solutions (id. express, id. pay, Kap‑eCV) and external growth in France and Europe; profitability will remain solid but tempered by continued investment to support that growth. Forward‑looking statements are subject to customary risks disclosed by the company.