Teleperformance SE

Latest Results (20.11.2025):

This summary covers Teleperformance SE's First‑Half 2025 results, with emphasis on Q2 2025. Group H1 2025 revenue was €5,116m, up +1.5% like‑for‑like (LFL). Q2 showed acceleration in Core Services (+3.5% LFL). Recurring EBITA was €697m (margin 13.6% reported; 13.9% excluding currency effects). Net profit — group share was €249m (EPS €4.19) and net free cash flow was €259m for H1; management updated 2025 objectives to reflect exchange‑rate moves and Specialized Services volatility.

Revenue & growth

H1 2025 revenue €5,116m (+0.8% reported; +1.5% LFL). Core Services H1 +2.9% LFL; Specialized Services H1 −7.0% LFL (or +3.0% LFL when adjusted for the non‑renewal of a major visa contract). Q2 revenue €2,503m (+1.3% LFL).

Q2 momentum — Core Services

Core Services accelerated to +3.5% LFL in Q2 (vs +2.3% in Q1), led by Europe, MEA & Asia‑Pacific (+5.7% LFL in Q2) and growth in AI‑related back‑office and data services.

Profitability

H1 recurring EBITA €697m; margin 13.6% reported and 13.9% excluding currency effects. EBITDA before non‑recurring items was €958m (18.7% of revenue). Management implemented efficiency measures with immediate impact in Q2.

Cash flow, buybacks & capital allocation

H1 net free cash flow €259m. New €100m share buyback program nearly completed (€30m repurchased in H1); Board reviewing further capital allocation to maximize long‑term shareholder value.

Specialized Services headwind

Specialized Services was hurt by the non‑renewal of a significant visa application management contract and softer US market dynamics (LanguageLine). This drove the reported H1 decline in Specialized Services despite underlying resilience when adjusted for that contract.

Strategy & AI investments

‘Future Forward’ strategic plan launched; significant investments in AI (TP.ai FAB platform, AI partnerships, ~250+ AI projects in H1, €100m AI partnership program, acquisition of Agents Only, partnerships with Sanas/Parloa/Ema). Focus on AI + human augmentation and upskilling (65,000+ training programs completed).

2025 objectives updated

2025 guidance revised: Group LFL revenue growth at the lower end of the prior +2% to +4% range; recurring EBITA margin targeted between 15.0% and 15.1% at constant exchange rates; strong net free cash flow around €1bn excluding non‑recurring items.