Business
ACTIA : 2025 HALF-YEARLY FINANCIAL REPORT
ACTIA : 2025 HALF-YEARLY FINANCIAL
About this update from Actia Group
Contents HALF-YEARLY FINANCIAL REPORT 30 JUNE 2025 ACTIA Group French limited liability company with a Board of Directors with Share Capital of €15,074,955.75 Registered Office: 5, rue Jorge Semprun 31400 Toulouse Toulouse Trade and Companies Register: 542 080 791 We present herein the interim financial report covering the six-month period ended 30 June 2025, drawn up in compliance with the provisions of Article 4.2 of the EURONEXT Growth Markets Rule Book. Half-Yearly Financial Report – 30 June 2025 2 This report is distributed in compliance with the provisions of Article 4.1.4 of the EURONEXT Growth Markets Rule Book. It is also available on our company site - https://www.actia.com . Contents CONTENTS CHAIRMAN’S STATEMENT 4 HALF-YEARLY MANAGEMENT REPORT 5 Activity 5 Income 8 Net debt 9 Future prospects 9 Principal related party transactions 9 CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS 10 Condensed statement of the financial situation 10 Condensed income statement 12 Condensed statement of comprehensive income 13 Condensed statement of changes in equity 14 Condensed consolidated cash flow statement 15 Notes to the consolidated financial statements 16 Note 1. Information about the Group – Entity presenting the financial statements 16 Note 2. Accounting principles 16 Note 3. Consolidated companies 17 Note 4. Goodwill 18 Note 5. Intangible assets 18 Note 6. Tangible assets 18 Note 7. Stocks and work in progress 19 Note 8. Trade receivables, Other current receivables and Current tax credit 19 Note 9. Order book 20 Note 10. Cash, cash equivalents and financial instruments at fair value through profit and loss 21 Note 11. Deferred taxation 22 Note 12. Financial assets and liabilities 22 Note 13. Financial liabilities 23 Note 14. Equity 25 Note 15. Provisions 25 Note 16. Personnel benefits 25 Note 17. Trade payables, Other current liabilities, Corporate taxes (IS) 25 Note 18. Assets and liabilities held for sale 26 Note 19. Operating segments 26 Note 20. Income taxes 29 Note 21. Financial Result 29 Note 22. Transactions with related parties 29 Note 23. Off-balance-sheet commitments and encumbered assets 30 Note 24. Risk factors 30 Note 25. Post-balance sheet events 31 STATUTORY AUDITORS’ REPORT32 Half-Yearly Financial Report – 30 June 2025 3 Chairman’s statement CHAIRMAN’S STATEMENT I hereby certify, to the best of my knowledge, that the condensed interim financial statements have been drawn up in compliance with the applicable accounting standards and give a true and fair view of the assets, financial health and results of all the companies included in the scope of consolidation and that the half-yearly management report in Section 2 “Half-yearly Management Report” gives a true and fair view of the important events that have occurred during the six months under review and of their effect on the interim accounts, the principal related party transactions, and a description of the principal risks and areas of uncertainty for the remaining six months of the financial year. 17 September 2025 Jean-Louis Pech Chairman and CEO Half-Yearly Financial Report – 30 June 2025 4 Half-yearly management report HALF-YEARLY MANAGEMENT REPORT Activity Group The Group’s consolidated financial statements show turnover of €266.4 million for the first half of 2025, down by 4.7%. Consolidated turnover in €M, IFRS 2025 2024 Variation (in €M and as %) Q1 125.8 139.8 -14.0 -10.0% of which total sales (1) 138.1 151.6 -13.5 -8.9% of which intra-group sales -12.3 -11.8 +0.5 +4.4% Q2 140.6 139.7 +0.9 +0.7% of which total sales (1) 151.5 150.2 +1.3 +0.9% of which intra-group sales -10.8 -10.5 +0.4 +3.4% H1 266.4 279.5 -13.1 -4.7% of which total sales (1) 289.6 301.8 -12.2 -4.0% of which intra-group sales -23.2 -22.3 +0.9 +3.9% (1) Consolidated turnover corresponds to sales from which intra-group invoices are deducted. France Europe (hors France) Asie Amériques Afrique & Océanie S1 2025 266,4 M€ S1 2024 279,5 M€ 13,6% 9,1% 2,8% 41,8% 12,5% 7,4% 2,7% 39,8% 58.2% of consolidated turnover generated internationally. 9.1% 41.8% 32.7% H1 2025 €266.4 million 13.6% 2.8% 39.8% 37.5% H1 2024 €279.5 million 12.5% 7.4% 2.7% France Europe (excl. France) Asia Americas Africa & Oceania 32,7% 37,5% Mobility Division The Mobility division designs and produces on-board electronic equipment and systems to address the various challenges faced by terrestrial mobility in the areas of road and rail transport, goods and passenger transport, and agriculture and construction machinery. Smart and upgradeable technologies are integrated into the wide range of solutions and associated services in order to improve the user experience, encourage the energy transition and contribute to the sustainability of vehicles, while also accelerating progress towards new generations of vehicles, such as software-defined, electric and autonomous vehicles, etc. For the first half of 2025, the division’s sales fell by 9.6% (-€22.8 million) to €215.5 million, and can be broken down as follows: Mobility Division, Sales in €M 2025 2024 Variation (in €M and as %) Q1 Q2 103.4 112.2 122.8 115.5 -19.5 -3.3 -15.9% -2.9% H1 215.5 238.3 -22.8 -9.6% Half-Yearly Financial Report – 30 June 2025 5 In €M H1 2025 H1 2024 Variation in Variation as €M % 2. Half-yearly management report Light vehicles 31.7 42.4 -10.7 -25.2% HGVs 47.2 53.6 -6.4 -11.9% Buses & Coaches 47.0 40.7 6.3 15.5% Off highway (1) 33.8 34.4 -0.6 -1.7% Rail 21.6 31.3 -9.7 -31.0% Other 34.2 35.9 -1.7 -4.7% Mobility Division 215.5 238.3 -22.8 -9.6% (1) Off highway: agricultural machinery, construction machinery In Q2 2025, the Mobility Division generated sales of €112.2 million, representing 74.0% of Group sales, compared to 76.9% a year earlier. Although the difficulties in the European Automotive sector continue, the division has benefited from the introduction of new regulatory requirements (RED II), which have led some customers, particularly in the HGV sector, to shift their orders to older generations of products. This trend temporarily underpinned business in Q2, to the detriment of Q3, which should reflect a lag in demand for new generations of products developed by ACTIA. Major technical milestones were achieved in the development of new centralised electronic architectures (zonal computers and HPC*), notably for applications in the key HGV and Specialist Vehicle segments. Business in the Buses & Coaches sector continued to be driven by contracts won in China, where the vehicles are enjoying growing international success. In the Rail sector, sales fell back significantly, due to the completion in Q2 2024 of programmes (for the Olympic Games in particular) that had made a strong contribution to business a year earlier. Most of the new contracts, particularly with Alstom outside France, are currently in the engineering phase, with no significant deliveries expected before mid-2026. There are still many commercial successes in this segment, and ACTIA is continuing to reconfigure this Rail business, particularly at Millau, to take better advantage of opportunities in this market and maximise performance when future programmes come on stream. The division’s EBITDA stood at €6.8 million, compared to €29.3 million at 30 June 2024 (-€22.5 million). The downturn in business recorded since the first months of 2024, reaching its low point in late 2024/early 2025, is impacting the profitability of the division, particularly the plants, and therefore affecting its operating income. It should be noted that the division did not benefit this year from the proceeds from the transfer of an ACTIA software solution for on-board systems for vehicles, as part of the technological collaboration with Ampere (March 2024), which had offset the collapse in operating profitability in 2024. In addition, the changes implemented in the organisation of the production sites have resulted in exceptional personnel costs for the year, for which provision is being made as of 30 June (around €3 million). *HPC: High Performance Computing Aerospace Division The Aerospace Division designs and produces on-board electronic systems for aeronautics and space, as well as complete, integrated solutions for satellite telecommunications. Aerospace Division, Sales in €M 2025 2024 Variation (in €M and as %) Q1 Q2 15.8 20.6 13.2 18.1 +2.7 +2.5 +20.1% +13.7% H1 36.5 31.3 5.1 16.4% The division generated sales of €36.5 million in the first half of 2025 (+16.4%). In Q2 2025, the Aerospace Division once again posted sustained sales growth, up 13.7% to €20.6 million. This performance reflects growth in France and Sweden, stronger momentum from major European Defence customers, and the impact of the integration of STEEL Electronique, which has been consolidated since 1 June 2024. The Aerospace Division has confirmed its position as a systems manufacturer with a global offering that includes turnkey solutions, attracting strong interest from export markets. Half-Yearly Financial Report – 30 June 2025 6 2. Half-yearly management report The division’s EBITDA stood at €1.8 million compared to €1.3 million at 30 June 2024 (+€0.6 million). In addition, in accordance with the contracts signed in May 2024, DIADEM Industries exercised its put option on 3.75% of ACTIA Aerospace's capital. At 30 June 2025, ACTIA Group now holds 88.75% of its subsidiary's capital. Energy Division The Energy Division develops, integrates and implements innovative solutions for the management, transmission and distribution of electric power for major energy players. Energy Division, Sales in €M 2025 2024 Variation (in €M and as %) Q1 Q2 8.2 7.5 6.0 6.0 +2.2 +1.4 +36.9% +23.7% H1 15.7 12.1 3.7 30.3% The division’s sales were €15.7 million in the first half of 2025. In Q2 2025, the Energy Division recorded growth of 23.7% to €7.5 million, in line with its development trajectory, driven in particular by the success of its solutions and equipment for smart grid management. This increase reflects the successful roll-out of solutions for energy networks in France, as well as the pursuance of the contracts won in Africa for the optimisation of electricity distribution infrastructure and smart grids. The division's EBITDA stood at break-even (~€0.0 million) compared to €0.7 million at 30 June 2024 (-€0.7 million). The strong growth in the business is generating substantial external costs at this stage, as it takes time to find the teams and organisation needed to sustain the business. Engineering Services Division The Engineering Services Division designs and develops on-board products and systems, augmented with software services for the mobility and industrial sectors. This division includes technological collaborations in the field of on-board systems for vehicles. Engineering Division, Sales in €M 2025 2024 Variation (in €M and as %) Q1 Q2 9.2 9.7 8.7 9.7 0.5 0.0 +5.9% 0.0% H1 18.9 18.3 0.5 +2.8% The division generated sales of €18.9 million in the first half of 2025, up 2.8%. In Q2 2025, the Engineering Division generated turnover of €9.7 million, stable compared to the same period in 2024. ACTIA's expertise continues to be acclaimed, particularly in the field of on-board systems for vehicles and Software Defined Vehicles (SDV), and also for major European accounts in the electronics sector. The division’s EBITDA stood at €3.9 million, compared to €4.1 million at 30 June 2024 (-€0.3 million). Business growth has led to the development of a skilled R&D team in France, resulting in a slight increase in personnel costs. Half-Yearly Financial Report – 30 June 2025 7 Income The consolidated results were as follows: 2. Half-yearly management report In €K H1 2025 H1 2024 Variation % in €K variation Revenue 266,419 279,471 -13,052 -4.7% Operating income -3,209 21,577 -24,786 -114.9% Financial Result -10,985 -2,548 -8,438 331.2% Income for the period -13,380 12,547 -25,927 -206.6% In conjunction with the decline in business and the reduction in inventoried production, the material consumption rate stood at 49.5% compared to 51.8% at 30 June 2024. Purchases also benefited from a sharp appreciation of the euro over the period, with the average US dollar exchange rate at 1.113 compared to 1.093 in the first half of 2024. Personnel expenses rose to €86.8 million from €83.2 million at 30 June 2024 (+€3.6 million). This increase is due to reorganisation costs, which were incurred or committed (provisions) to take account of production level and the challenges of digitalisation and robotisation to maintain our capacity to produce to the highest international standards. The workforce stands at 3,990, compared to 4,210 a year earlier (-220 people), taking into account the disposal of our subsidiary ATAL (45 people - February 2025) and the transfer of the team for Ampere (85 people compared to 30 June 2024 - October 2024). As a result of changes in our markets, recruitment to keep pace with requirements is now strictly controlled. External expenses were kept under control at €34.4 million, compared to €36.2 million at 30 June 2024 (-5.1%), mainly due to lower maintenance and transport costs. Provisions for depreciation increased slightly to €14.5 million from €13.4 million at 30 June 2024. In a persistently difficult environment, R&D expenditure was devoted to developments linked to commercial successes, and reached €46.4 million in the first half of 2025, a decrease of €1.3 million compared to 30 June 2024. R&D expenditure corresponded to 17.4% of turnover, compared to 17.1 % at 30 June 2024. The re-invoicing rate was 51.2% (compared to 49.0% a year earlier) and the capitalisation rate fell slightly to 11.3% of expenditure, compared to 13.3% at 30 June 2024. As a result, the Group's current operating income fell to -€3.3 million, compared to €1.9 million at 30 June 2024 (-€5.2 million), reflecting the impact of the decline in sales from medium and large production runs (HGVs and off-highway) on the absorption of fixed costs, and the efforts made to adapt ACTIA's organisation to meet the challenges of international competition and improve its profitability. The operating income stood at -€3.2 million, compared to €21.6 million at the end of June 2024, with the inclusion of the proceeds from the transfer of an ACTIA software solution for on-board systems for vehicles, as part of the technological collaboration with Ampere (end of March 2024). EBITDA for the period stood at €11.5 million, compared to €35.2 million at 30 June 2024. The financial result stood at -€11.0 million compared to -€2.5 million at 30 June 2024 (-€8.4 million). It includes interest charges of -€4.6 million, compared to -€4.4 million at 30 June 2024. Despite the reduction in debt, this represents an additional charge of €0.2 million, linked to the rise in interest rates affecting the cost of short-term variable-rate borrowings and new medium-term credit lines. In this way, the average interest rate of the debt stood at 4.53% compared to 4.00% at 30 June 2024. Other financial income includes the -€6.6 million change in fair value of financial instruments at 30 June 2025, compared to €1.8 million for the same period last year, a difference of -€8.4 million. The purpose of hedging instruments is to ensure that the average purchase price of US dollars is equal to the price sold when customer contracts are signed. After income tax of +€0.7 million at 30 June 2025, compared to -€6.5 million a year earlier, income for the period fell to -€13.4 million, compared to €12.5 million at 30 June 2024 (-€25.9 million). Half-Yearly Financial Report – 30 June 2025 8 Net debt 2. Half-yearly management report ACTIA generated cash flow from operations of €18.6 million over the period, including a €14.4 million reduction in WCR, reflecting the action taken to continue reducing inventories (down €9.4 million compared to 31 December 2024), which had risen abnormally following component shortages (February 2021 - June 2023). Cash flow from investment activities consumed €11.0 million, compared to a generation of €13.3 million last year, with the proceeds from the transfer of an ACTIA software solution for on-board systems for vehicles, as part of the technological collaboration with Ampere, and the cash flow from STEEL Electronique, acquired in May 2024. Apart from factors specific to the 2024 financial year, this level is slightly lower than in the past, reflecting the choices made to maintain investment in a constrained environment. As a result, net debt stood at €147.6 million at 30 June 2025, compared to €150.1 million at 31 December 2024, down by €2.5 million. Future prospects The contrasting performance of the various divisions in the first half of 2025 reflects the different dynamics of the markets addressed by ACTIA, but confirms the strength of its technological and industrial positioning. In the current economic climate, ACTIA Group remains cautious about the momentum of its Mobility Division, whose mass production markets are not recovering after a sharp erosion in 2024. Continued growth in the other 3 divisions (Aerospace, Energy and Engineering Services) should nevertheless enable turnover in 2025 to stabilise at the 2024 level of around €535 million. In response to this environment, ACTIA is continuing to adapt its industrial facilities as part of an overall rationalisation programme designed to bring its organisation and production capacity into line with current market realities, while preserving room for manoeuvre to enable a swift rebound if necessary. The various sites and their organisation continue to evolve to become more competitive, keep pace with technological developments and preserve the Group's expertise over time. This programme is also accompanied by increased efforts to preserve cash and reduce inventories, following on from the successful initiatives launched the previous year. As a driver of innovation, ACTIA Group is naturally moving 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 launch of new product families will reinforce ACTIA Group’s growth trajectory towards its target of €700 million in revenue by 2028. Consequently, the ACTIA Group Board of Directors approved the financial statements on 30 June 2025 according to the going concern principle. Principal related party transactions The principal transactions between related parties are described in Note 22 “Transactions with related parties” in the notes to the condensed consolidated financial statements at 30 June 2025. Half-Yearly Financial Report – 30 June 2025 9 3. Condensed consolidated interim financial statements CONDENSED CONSOLIDATED INTERIM FINANCIAL STATEMENTS Condensed statement of the financial situation Consolidated assets in €K Notes 30/06/2025 31/12/2024 Goodwill Note 4 25,583 25,583 Development costs Note 5 50,234 51,063 Other intangible assets Note 5 4,612 5,232 Total intangible assets Note 4 and 5 80,429 81,877 Land Note 6 3,100 3,202 Buildings Note 6 33,370 33,452 Technical equipment Note 6 11,641 12,549 Other tangible assets Note 6 12,837 15,383 Total tangible assets Note 6 60,949 64,585 Equity method investments 1,045 991 Other non-current financial assets 1,823 1,975 Deferred taxation Note 11 15,137 14,669 Non-current tax credit 18,987 16,151 TOTAL NON-CURRENT ASSETS 178,370 180,248 Inventory and work-in-process Note 7 177,001 186,384 Trade receivables Note 8 150,210 150,749 Other current receivables Note 8 23,933 22,937 Current tax credit Note 8 10,385 10,575 Fair value of financial asset instruments Note 10.2 0 2,978 Cash and cash equivalents Note 10.1 56,777 71,024 TOTAL CURRENT ASSETS 418,305 444,647 Assets held for sale Note 18 0 1,294 TOTAL ASSETS 596,676 626,190 Half-Yearly Financial Report – 30 June 2025 10 3. Condensed consolidated interim financial statements Consolidated Equity Capital and Liabilities in €K Notes 30/06/2025 31/12/2024 Capital Note 14 15,075 15,075 Premiums Note 14 17,561 17,561 Reserves Note 14 118,642 105,910 Translation reserve Note 14 (7,230) (4,878) Treasury shares Note 14 (162) (162) Income for the period Note 14 (12,911) 13,932 Group common shareholders’ equity Note 14 130,974 147,437 Non-controlling interests Note 14 3,097 5,450 EQUITY Note 14 134,071 152,887 Borrowings from credit institutions Note 13 96,320 107,680 Finance lease financial liabilities Note 13 11,642 12,582 Other financial liabilities Note 13 6,826 8,611 Total non-current debt Note 13 114,788 128,872 Deferred tax liabilities Note 11 612 584 Pension liabilities and other long-term benefits Note 16 7,428 7,666 TOTAL NON-CURRENT LIABILITIES 122,827 137,123 Provisions Note 15 11,827 10,577 Borrowings from credit institutions - current share Note 13 42,099 42,737 Finance lease financial liabilities - current share Note 13 5,324 5,248 Other financial liabilities - current share Note 13 3,050 3,302 Short-term bank borrowings Note 13 39,168 40,979 Fair value of financial liability instruments Note 10.2 3,641 0 Total current debt 93,282 92,266 Trade payables Note 17 85,255 79,298 Other liabilities Note 17 126,840 123,362 Corporate taxes (IS) Note 17 2,235 8,258 Deferred income 20,337 22,128 TOTAL CURRENT LIABILITIES 339,777 335,888 Liabilities held for sale Note 18 0 292 TOTAL EQUITY AND LIABILITIES 596,676 626,190 Half-Yearly Financial Report – 30 June 2025 11 Condensed income statement 3. Condensed consolidated interim financial statements Consolidated income in €K Notes H1 2025 H1 2024 Revenue from ordinary activities (Turnover) Note 19 266,419 279,471 - Materials and supplies (132,467) (144,305) - Personnel expenses (86,762) (83,216) - External expenses (34,396) (36,228) - Taxes (2,739) (2,644) - Provisions for depreciation Note 19 (14,545) (13,437) +/- Changes in stocks of finished goods and work in progress 1,025 (660) +/- Exchange gains / losses on operating activities (2,943) 865 + Research tax credit 3,107 2,059 Current operating income Note 19 (3,301) 1,904 + Other operating revenue and expenses 92 19,673 - Impairment of goodwill Note 4 0 0 Operating income Note 19 (3,209) 21,577 + Income from cash and cash equivalents 155 3 - Interest and financial costs Note 19 (4,626) (4,421) + Other financial income / (costs) (6,515) 1,870 Financial Result Note 21 (10,985) (2,548) + Net income Group share equity method consolidated companies 85 59 + Income tax Note 19 and 20 729 (6,542) Net income from continuing operations Note 19 (13,380) 12,547 Net income from discontinued operations 0 0 Income for the period Note 19 (13,380) 12,547 * attributable to Group shareholders Net income from continuing operations (12,911) 0 (12,911) (469) 0 (469) 12,196 Net income from discontinued operations 0 Net income for the period 12,196 * non-controlling interests Net income from continuing operations 351 Net income from discontinued operations 0 Net income for the period 351 Basic and diluted net earnings per share from continuing operations (in €) - Group share (0.64) 0.61 Basic and diluted net earnings per share from discontinued operations (in €) - Group share 0.00 0.00 Basic and diluted earnings per share (in €) - Group share (0.64) 0.61 Half-Yearly Financial Report – 30 June 2025 12 3. Condensed consolidated interim financial statements Condensed statement of comprehensive income Statement of comprehensive income in €K H1 2025 H1 2024 Income for the period (13,380) 12,547 Items that will not be reclassified to profit or loss 400 187 Defined benefit pension plans – Actuarial differences 530 246 Deferred taxation on defined benefit pension plans – Actuarial differences (129) (59) Items that may subsequently be reclassified to profit or loss (2,132) (662) Cumulative translation differences (2,132) (662) Other comprehensive income, net of tax (1,732) (476) Comprehensive income for the period (15,112) 12,071 Attributable: * to Group shareholders (14,613) 11,721 * to non-controlling interests (499) 350 Consolidated comprehensive income attributable to Group shareholders and coming from: * Continuing operations (14,613) 11,721 * Discontinued operations 0 0 Consolidated comprehensive income attributable to non-controlling interests and coming from: * Continuing operations (499) 350 * Discontinued operations 0 0 Half-Yearly Financial Report – 30 June 2025 13 3. Condensed consolidated interim financial statements Condensed statement of changes in equity In €K Capital Treasury shares Premiums Consolidated reserves, retained earnings Translation reserve Total attributable to the Group Non-controlling interests Total Shareholders’ funds At 01/01/2024 15,075 (162) 17,561 110,231 (4,122) 138,583 3,236 141,819 Consolidated income 0 0 0 12,196 0 12,196 351 12,547 Other comprehensive income 0 0 0 179 (654) (475) (0) (476) Comprehensive income for the period 0 0 0 12,375 (654) 11,721 350 12,071 Transactions with shareholders Distributions to shareholders 0 0 0 (2,412) 0 (2,412) (372) (2,784) Capital increases 0 0 0 0 0 9,200 9,200 Minority interests 0 from business combinations 0 0 6,088 0 6,088 (6,088) 0 Cross call and put options on minority 0 0 0 (8,282) 0 (8,282) 0 (8,282) Other 0 0 0 153 0 153 (175) (22) Comprehensive income interests At 30/06/2024 15,075 (162) 17,561 118,153 (4,776) 145,850 6,153 152,003 At 01/01/2025 15,075 (162) 17,561 119,842 (4,878) 147,437 5,450 152,887 Consolidated income 0 0 0 (12,911) 0 (12,911) (469) (13,380) Other comprehensive income 0 0 0 391 (2,093) (1,702) (30) (1,732) Comprehensive income for the period 0 0 0 (12,520) (2,093) (14,613) (499) (15,112) Transactions with shareholders Distributions to shareholders 0 0 0 (2,424) 0 (2,424) (246) (2,670) Capital increases 0 0 0 0 0 0 Minority interests 0 from business combinations 0 0 812 0 812 (812) 0 Cross call and put options on minority 0 0 0 (180) 0 (180) (180) Changes in scope 0 0 0 260 (260) 0 (794) (794) Other 0 0 0 (58) 0 (58) (2) (60) At 30/06/2025 15,075 (162) 17,561 105,731 (7,231) 130,974 3,097 134,071 Comprehensive income interests Half-Yearly Financial Report – 30 June 2025 14 3. Condensed consolidated interim financial statements Condensed consolidated cash flow statement Consolidated cash flow statement in €K Notes H1 2025 H1 2024 Income for the period Note 3.2 (13,380) 12,547 Adjustments for: Depreciation and provisions 14,997 13,943 Profit / loss from disposal of assets 899 (19,942) Interest charges Note 3.2 4,626 4,421 Current tax charge (excl. research tax credit) 362 3,263 Changes to deferred taxation (1,091) 3,279 Research tax credit (3,107) (2,059) Other income / expense 7,390 (2,179) Share of the profit / loss of associates Note 3.2 (85) (59) Operating cash flow before changes to working capital requirements 10,610 13,212 Changes to working capital requirements related to the business 14,448 3,686 Income tax paid (excluding research tax credit) (6,722) (1,470) Research tax credit collected 292 4,020 Net cash flow from operating activities 18,629 19,448 Capital purchases (8,409) (10,521) Dividends received from associates 31 27 Income from disposal of assets 52 20,012 Changes in loans and advances 150 91 Cash flow from changes in scope Note 1 (2,832) 3,698 Net cash flow from investing activities (11,007) 13,306 Dividends paid to the owners of the parent company 0 (2,412) Dividends paid to non-controlling interests in consolidated companies 0 (372) New borrowings Note 13 9,601 1,665 Repayment of borrowings Note 13 (21,824) (22,492) Reimbursement of lease liabilities Note 13 (2,971) (3,446) Interest paid (4,626) (4,421) Net cash flow from financing activities (19,819) (31,477) Effect of exchange rate changes (999) (119) Cash and cash equivalents - opening balance Note 10.1 30,804 (1,217) Cash and cash equivalents - closing balance Note 10.1 17,609 (58) Changes in cash and cash equivalents (13,195) 1,159 Half-Yearly Financial Report – 30 June 2025 15 3. Condensed consolidated interim financial statements Notes to the consolidated financial statements Note 1. Information about the Group – Entity presenting the financial statements ACTIA Group is domiciled in France. The Company’s registered head office is located at 5, Rue Jorge Semprun -31400 Toulouse. The Company’s condensed consolidated financial statements include the Company and its subsidiaries (jointly referred to as the “Group”). The principal business areas of the Group are high-added-value, onboard electronic systems for the automotive and telecommunications markets. The condensed consolidated financial statements at 30 June 2025 were approved by the Board of Directors on 17 September 2025. The condensed consolidated financial statements at 30 June 2025 were subject to a limited review by the statutory auditors. Significant events of the period ACTIA Railway implemented a reorganisation plan to safeguard the company's competitiveness and secure its future. Negotiations with the Works Council led to agreement on the implementation of a new organisational structure that limits forced redundancies and on support measures to minimise the plan’s social impact. The final plan involves the elimination of 30 positions and received positive feedback from the Regional Directorate for the Economy, Employment, Labour, and Solidarity (DREETS) on 24 June. Provisions have been made for all related costs in the company's accounts at 30 June 2025. A provision of €2,232 thousand has been recorded to cover the company's commitments (Note 15). In accordance with the contracts signed in May 2024, DIADEM Industries exercised its €2.3 million put option on 3.75% of ACTIA Aerospace's capital. At 30 June 2025, ACTIA Group now holds 88.75% of its subsidiary's capital. The buyback undertaking recognised under miscellaneous liabilities has been adjusted accordingly to reflect this transaction (Note 13). Following the exercise in November 2024 by ATAL's minority shareholder of its option to purchase the 59.98% of shares held by the Group, the actual sale was completed in February 2025. This transaction led to the deconsolidation of the subsidiary in the consolidated accounts at 30 June 2025 (Note 3). Note 2. Accounting principles Note 2.1 Basis for the preparation of the financial statements The accounting methods and means of calculation have been applied in an identical manner for all the periods presented. The sums stated in these financial statements are expressed in thousands of euros (€K). The condensed consolidated interim financial statements are drawn up in accordance with the IAS 34 standard, Interim financial reporting. They do not include all the information required for the annual financial statements and should be read in conjunction with the Group’s financial statements for the financial period ended 31 December 2024, presented in the 2024 Annual Report. Note 2.2 Use of estimates and judgements The preparation of financial statements in accordance with IFRS requires management to exercise judgement, and make estimates and assumptions that have an impact on the application of the accounting methods and on the value of assets, liabilities, income and expenditure. These underlying estimates and assumptions are made on the basis of past experience and other factors considered to be reasonable in view of the circumstances. They therefore serve as the basis for exercising the judgement needed to determine the book value of certain assets and liabilities that cannot otherwise be determined directly from other sources. The actual value may differ from the estimated value. These underlying estimates and assumptions are constantly re-examined. The impact of changes to accounting estimates is recognised during the period in which the change occurs if they only affect that period, or in the period in which the change occurs and the subsequent periods if these are also affected by the change. The principal line items in the balance sheet that are affected by these estimates are deferred tax assets (see Note 11 “Deferred taxation”), goodwill (see Note 4 “Goodwill”), capitalised development costs (see Note 5 “Intangible assets”), and provisions (see Note 15 “Provisions”). Half-Yearly Financial Report – 30 June 2025 16 3. Condensed consolidated interim financial statements Note 2.3 Changes to IFRS The new IAS/IFRS texts and interpretations that became effective on 1 January 2025 and have been applied by the Group when preparing these consolidated financial statements at 30 June 2025 are as follows: IASB date of application EU date of adoption EU date of application Amendment to IAS 21 “The Effects of Changes in Foreign Exchange Rates” - Lack of Exchangeability. 01/01/2025 12/11/2024 01/01/2025 The application of these texts had no impact on the Group’s consolidated financial statements. New standards, interpretations and amendments to IFRS standards published and applied early by the Group as of 1 January 2025: none. The new IAS/IFRS texts and interpretations in issue but pending adoption by the European Union and not yet applicable are: IASB date of application EU date of adoption EU date of application Amendments to classification and measurement of financial instruments - Amendments to IFRS 9 Financial Instruments and IFRS 7 Financial Instruments: Disclosures 01/01/2026 27/05/2025 01/01/2026 Amendments to IFRS 9 and IFRS 7 for nature-dependent electricity contracts 01/01/2026 30/06/2025 01/01/2026 Annual improvements volume 11 01/01/2026 09/07/2025 01/01/2026 IFRS 18 “Presentation and Disclosure in Financial Statements”. 01/01/2027 Not yet announced Not yet announced IFRS 19 “Subsidiaries without public accountability: disclosures” 01/01/2027 Not yet announced Not yet announced Note 3. Consolidated companies As mentioned in Note 1 “Significant events of the period”, ATAL was deconsolidated following the sale of the shares held by the Group to minority shareholders. During the first half of the year, ACTIA Aeronautic Services, a company wholly-owned by the Group, was set up in Tunisia. It will be mainly in charge of R&D activities for the aerospace sector. Half-Yearly Financial Report – 30 June 2025 17 3. Condensed consolidated interim financial statements Note 4. Goodwill In €K Country Net balance sheet amounts at 30/06/2025 Net balance sheet amounts at 31/12/2024 ACTIA Corp. USA 7,501 7,501 ACTIA Aerospace France 6,850 6,850 STEEL Electronique France 3,176 3,176 ACTIA Energy France 3,174 3,174 ACTIA Telematics Services Belgium 2,480 2,480 ACTIA Railway France 1,391 1,391 ACTIA Nordic Sweden 0 0 CIPI ACTIA Tunisia 922 922 ACTIA PCs France 0 0 SODIMOB France 88 88 Total 25,583 25,583 Impairment tests are conducted each year at closing on 31 December, or in the event of indications of loss of value (quantified or non-quantified indicators). No indication of loss of value was detected at 30 June 2025. Note 5. Intangible assets During the first half of 2025, capitalised development costs amounted to €5.3 million compared to €6.3 million for the first half of 2024. Details of acquisitions of intangible assets are given in the following table: In €K 30/06/2025 30/06/2024 Development costs Mobility Division 2,916 4,828 Aerospace Division 730 88 Energy Division 1,620 1,430 Total 5,266 6,347 Other intangible assets Mobility Division 159 197 Aerospace Division 0 1,079 Energy Division 0 18 Engineering Division 9 23 Other Divisions 0 0 Total 167 1,317 Note 6. Tangible assets During the first half of 2025, acquisitions of tangible assets amounted to €5.4 million (compared to €7.3 million for the first half of 2024); all were acquired from outside suppliers. Details of these acquisitions are given in the following table: Half-Yearly Financial Report – 30 June 2025 18 3. Condensed consolidated interim financial statements In €K 30/06/2025 30/06/2024 Land Mobility Division 0 0 Aerospace Division 0 0 Energy Division 0 0 Engineering Division 0 300 Sub-total 0 300 Buildings Mobility Division 1,027 2,652 Aerospace Division 130 167 Energy Division 3 37 Engineering Division 46 16 Other (incl. Holding company) 13 224 Sub-total 1,219 3,095 Technical equipment Mobility Division 1,117 833 Aerospace Division 704 112 Energy Division 90 7 Engineering Division 14 52 Sub-total 1,924 1,004 Other tangible assets Mobility Division 1,471 1,494 Aerospace Division 138 98 Energy Division 368 10 Engineering Division 213 1,278 Other (incl. Holding company) 20 0 Sub-total 2,211 2,880 Total 5,354 7,278 Note 7. Stocks and work in progress The net realisable value of stocks was as follows: In €K 30/06/2025 31/12/2024 30/06/2024 Raw materials 81,605 83,686 86,805 R&D costs pursuant to the execution of contracts 46,704 43,492 43,012 Intermediate and finished products 35,602 44,574 48,214 Goods 13,090 14,633 14,489 Total 177,001 186,384 192,521 During the first half of 2025, stocks fell overall by €9.4 million. Pledged inventories are set out in Note 23 “Off-balance-sheet commitments and encumbered assets”. Note 8. Trade receivables, Other current receivables and Current tax credit The details of trade receivables are given in the following table: In €K Net value at 31/12/2024 Changes over the period Depreciation / reversals Changes in scope Effect of exchange rates IFRS 5 Net value at 30/06/2025 Trade receivables 150,749 1,120 44 0 (1,704) 0 150,210 Half-Yearly Financial Report – 30 June 2025 19 3. Condensed consolidated interim financial statements Receivables assignment programmes are in place within the Group (reverse factoring and non-recourse factoring) at ACTIA Automotive, ACTIA Aerospace, ACTIA Railway, ACTIA Energy, ACTIA Italia, ACTIA Nordic, ACTIA Systems, ACTIA de Mexico and ACTIA do Brasil. The Group analysed the main characteristics of these programmes. With regard to deconsolidated receivables, the Group concluded that almost all the risks and rewards associated with the assigned receivables have been transferred to the assignees. The total amount used by the Group (reverse factoring and factoring) was €48.1 million, including €41.3 million in deconsolidated non-recourse factoring, €4.7 million in non-deconsolidated non-recourse factoring and €2.2 million in deconsolidated reverse factoring at 30 June 2025. At 31 December 2024, the total amount used was €57.5 million, including €42.9 million in deconsolidated non-recourse factoring, €5.3 million in non-deconsolidated non-recourse factoring and €9.3 million in deconsolidated reverse factoring. At 30 June 2025, the schedule for gross trade receivables not yet due and past due (aged balance) was as follows: In €K Not yet due Past due by 0 to 30 days Past due by 31 to 60 days Past due by 61 to 90 days Past due by more than 91 days Total trade receivables (Gross) Gross at 30/06/2025 123,706 12,583 3,973 3,398 10,948 154,608 Gross at 31/12/2024 120,547 12,231 6,749 4,419 11,524 155,470 No significant uncollectable debt was recognised at 30 June 2025 or at 30 June 2024. The details of other current receivables and current tax credit are given in the following table: In €K Net value at 31/12/2024 Changes over the period Depreciation / reversals Changes in scope Effect of exchange rates IFRS 5 Net value at 30/06/2025 Other current receivables 22,937 1,273 (10) 8 (275) 0 23,933 Current tax credit 10,575 (167) 0 0 (23) 0 10,385 Note 9. Order book The Group applies IFRS 15 “Revenue from contracts with customers”, which introduces the notion of a financial order book (“revenue still to be recognised for service obligations that are either as yet unexecuted or partially executed at the date of closing”). Therefore, the total order book for the Group stood at €432,868 thousand at 30 June 2025, of which 74.4% was expected to generate revenues within one year. The order book is defined as follows: Firm notified contracts, including R&D and/or products; Non-firm contracts: R&D orders secured by a firm financing clause; Delivery schedules communicated by the customer for the product part; Forecast delivery schedules under multi-year contracts. Services: firm subscriptions. In €K 30/06/2025 30/06/2024 Order book 432,868 428,361 Half-Yearly Financial Report – 30 June 2025 20 3. Condensed consolidated interim financial statements Note 10. Cash, cash equivalents and financial instruments at fair value through profit and loss Note 10.1 Cash and cash equivalents These changed as follows: In €K 30/06/2025 31/12/2024 Change Cash equivalents 1,160 82 1,078 Cash 55,618 70,943 (15,325) Cash and cash equivalents 56,777 71,024 (14,247) (39,168) (40,979) 1,811 Total 17,609 30,045 (12,436) Cash presented in the Assets/Liabilities held for sale 0 760 (760) Cash and cash equivalents - closing balance 17,609 30,804 (13,195) lines presented in the Cash flow statement Short-term bank borrowings are included in “Short-term debt” under Current liabilities. Cash equivalents are very liquid short-term investments comprised of marketable securities readily convertible into a known amount of cash and subject to an insignificant risk of a change in value. They are recognised at the market value at the balance sheet date, with the investment bonus recognised in income. The change of €1,078 thousand consists of new cash equivalents for €1,100 thousand. Note 10.2 Financial instruments at fair value through profit and loss These include: Interest rate hedging instruments ACTIA no longer has any interest rate hedging instruments; Currency hedging instruments At 30 June 2025, ACTIA Automotive held currency hedging contracts. Details of these hedges are given in the following table: In currency Maximum amount remaining to be acquired at 30/06/2025 Maturity Currency purchases EUR/USD Accumulator $62,068,996 < 1 year EUR/USD Accumulator $30,560,000 < 2 years Total $92,628,996 The Group recognises these currency hedging instruments at fair value through profit and loss. They are presented in the “Financial result” on the “Other financial income / (costs)” line of the Condensed income statement. The impact of this treatment on the financial statements is shown in the following table: In €K 30/06/2025 31/12/2024 Fair value Impact Fair value Impact ASSET (LIABILITY) Derivatives EUR/USD Hedges (3,641) (6,618) 2,978 4,069 Total (3,641) (6,618) 2,978 4,069 Half-Yearly Financial Report – 30 June 2025 21 3. Condensed consolidated interim financial statements Note 11. Deferred taxation In €K 30/06/2025 31/12/2024 Tax assets recognised under: Timing differences 8,076 6,640 Of which provision for pension benefits 1,350 1,405 Of which profits on stocks 690 681 Of which other adjustments 6,037 4,555 Losses carried forward 7,061 8,029 Net total tax assets 15,137 14,669 Tax liabilities recognised under: Deferred tax liabilities 612 584 Net total tax liabilities 612 584 Net total deferred tax assets and liabilities 14,526 14,085 Note 12. Financial assets and liabilities The Group distinguishes between three categories of financial instruments according to the consequences of their characteristics in terms of their valuation method, and uses this classification to present some of the types of information required by the standard IFRS 13: Level 1 “market value”: financial instruments quoted on an active market; Level 2 “model with observable inputs”: financial instruments valued using valuation techniques based on observable inputs; Level 3 “model with unobservable inputs.” At 30 June 2025, financial assets measured at fair value were classified as follows: In €K Level 1 Market value Level 2 With observable inputs Level 3 With unobservable inputs Derivatives Cash equivalents 1,160 Total 1,160 0 0 At 30 June 2025, financial liabilities measured at fair value were classified as follows: In €K Level 1 Market value Level 2 With observable inputs Level 3 With unobservable inputs Non-current liabilities Miscellaneous liabilities 4,732 Current liabilities Short-term debt 2,517 Derivatives 3,641 Total 0 3,641 7,249 Half-Yearly Financial Report – 30 June 2025 22 3. Condensed consolidated interim financial statements Note 13. Financial liabilities Financial liabilities by type and by maturity break down as follows: In €K 30/06/2025 31/12/2024 < 1 year From 1 to 5 years > 5 years Total < 1 year From 1 to 5 years > 5 years Total Bond issues 833 18,833 0 19,667 833 833 18,000 19,667 Borrowings from credit institutions 41,266 72,517 4,970 118,752 41,904 82,699 6,147 130,750 Miscellaneous liabilities 3,050 6,750 76 9,875 3,302 8,525 86 11,913 Debt – lease financing 5,324 10,347 1,295 16,966 5,248 10,743 1,839 17,830 Short-term bank borrowings and overdrafts 39,168 0 0 39,168 40,979 0 0 40,979 Total 89,641 108,447 6,340 204,429 92,266 102,800 26,073 221,139 During the first half of 2025, financial debt changed as follows: In €K 01/01/20 25 New borrowi ngs Repaym ent of borrowi ngs Change s in scope IFRS 16 Change in fair value Cumula tive translati on differen ces Other 30/06/20 25 Bond issues 19,667 0 0 0 0 0 0 0 19,667 Borrowings from credit 130,750 9,343 (21,340) 0 0 0 0 0 institutions 118,752 Miscellaneous liabilities 11,913 259 (307) 0 0 0 0 (1,990) (1) 9,875 Debt – lease financing 17,830 0 (2,971) 0 2,363 0 (257) 0 16,965 Short-term bank borrowings and 40,979 0 (1,708) 0 0 0 (103) 0 overdrafts 39,168 Total 221,139 9,601 (26,326) 0 2,363 0 (360) (1,990) 204,427 (1) As part of the acquisition of STEEL Electronique, the Group and DIADEM Industries (former shareholder of STEEL Electronique) signed promissory purchase and sale agreements aimed at providing a framework for the purchase of minority interests in ACTIA Aerospace. The Group recognised these call options under “Other financial liabilities”, with a corresponding reduction in shareholders' equity. During the first half of 2025, DIADEM Industries exercised a put option on 108,531 shares, representing 3.75% of the share capital. As a result, the Group's commitment has been reduced by €2.3 million, with a corresponding entry to shareholders' equity. In addition, the remaining commitment was remeasured at 30 June 2025, with a corresponding entry to shareholders' equity. At 30 June 2025, the schedule for financial liabilities, including interest not yet accrued, breaks down as follows: In €K < 1 year From 1 to 5 years > 5 years Total Nominal Interest Nominal Interest Nominal Interest Nominal Interest Nominal + Interest Bond issues 833 1,048 18,833 3,989 0 0 19,667 5,038 24,704 Borrowings from credit 41,266 2,868 72,517 4,715 4,970 117 institutions 118,752 7,699 126,452 Miscellaneous liabilities 3,050 0 6,750 0 76 0 9,875 0 9,875 Debt – lease financing 5,324 157 10,347 289 1,295 33 16,966 479 17,445 Short-term bank borrowings and 39,168 1,572 0 0 0 0 overdrafts 39,168 1,572 40,741 Total 89,641 5,645 108,447 8,993 6,340 150 204,429 14,788 219,217 Half-Yearly Financial Report – 30 June 2025 23 3. Condensed consolidated interim financial statements Financial debt by currency breaks down as follows: In €K EUR USD Other Total Bond issues 19,667 0 0 19,667 Borrowings from credit institutions 108,814 0 9,938 118,752 Miscellaneous liabilities 9,875 0 0 9,875 Debt – lease financing 9,763 18 7,186 16,966 Short-term bank borrowings and overdrafts 37,582 0 1,587 39,168 Total 185,701 18 18,711 204,429 The breakdown between fixed and variable rate debt was as follows: In €K 30/06/2025 31/12/2024 Fixed rate Variable rate Total Fixed rate Variable rate Total Bond issues 19,667 0 19,667 19,667 0 19,667 Borrowings from credit institutions 113,970 4,782 118,752 129,871 879 130,750 Miscellaneous liabilities 9,875 0 9,875 11,913 0 11,913 Debt – lease financing 16,311 656 16,966 17,097 733 17,830 Short-term bank borrowings and overdrafts 2,443 36,725 39,168 2,350 38,629 40,979 Total 162,266 42,163 204,429 180,897 40,241 221,139 Percentage breakdown 79.4% 20.6% 100.0% 81.8% 18.2% 100.0% All covenants on borrowings and bank credits must be reviewed annually at the end of each financial year (31 December), with the exception of one covenant on borrowing which is subject to an additional review at 30 June each year. Debt subject to a covenant Covenant / Restrictive clause Respected (3) Consequence of noncompliance with covenants: reclassification under current borrowings (4) Level (1) Year of inception Balance at 30/06/2025 €K Final maturity Ratios Basis of calculation (2) At 31/12/2024 At 30/06/2025 At 31/12/2024 At 30/06/2025 Borrowing L 2017 1,667 Nov 2026 Net debt to EBITDA < 4.0 CA AG R N/A 0 0 L 2020 51 Jan 2026 Net debt to equity ≤ 1.20 CA AG R N/A 0 0 Net financial expense to EBITDA < CA AG R N/A 30% Net debt to EBITDA ≤ 4.50 CA AG R N/A L 2020 51 Dec. 2025 Net debt to equity ≤ 1.20 CA AG R N/A 0 0 Net financial expense to EBITDA < 30% CA AG R N/A Net debt to EBITDA ≤ 4.50 CA AG R N/A L 2022 1,202 August 2027 Net debt to EBITDA < 4.50 CA AG R N/A 0 0 L 2022 18,000 April 2030 Net debt to EBITDA ≤ 5 CA AG R R 0 0 Net debt to equity ≤ 5 CA AG R R L 2022 240 August 2027 Net debt to EBITDA < 4.50 CA AG R N/A 0 0 L 2023 2,026 Sept. 2028 Net debt to EBITDA ≤ 4.50 CA AG R N/A 0 0 L 2023 1,441 Dec. 2028 Net debt to equity ≤ 1.20 CA AG R N/A 0 0 Half-Yearly Financial Report – 30 June 2025 24 3. Condensed consolidated interim financial statements Net debt to EBITDA ≤ 4.50 CA AG R N/A L 2024 1,340 Jan 2030 Net debt to equity ≤ 1.20 CA AG R N/A 0 0 L 2024 2,587 Sept. 2029 Net debt to EBITDA ≤ 4.00 CA AG R N/A 0 0 L 2024 447 Jan 2030 Net debt to equity ≤ 1.20 CA AG R N/A 0 0 Total 29,051 0 0 L = Loan O = Overdraft CA AG = ACTIA Group Consolidated Financial Statements R = Respected B = Breached N/A = Not Applicable Long-term portion of debt reclassified under “Short-term debt” At 31 December 2024, the leverage and gearing covenants had been respected on all borrowings. The guarantees given for borrowings and financial debts are listed in Note 23 “Off-balance-sheet commitments and encumbered assets”. In connection with the loan agreements obtained by the Group, certain banks include in these agreements general provisions relating to the right to use assets or obtain new loans and, sometimes, a requirement to maintain the composition of the capital, with any changes requiring prior information of the partners. Based on the information available to the Group on the date this document was published, at least one of the two ratios would not be respected at 31 December 2025. Note 14. Equity The breakdown of the changes in numbers of shares over the period is as follows: In units 31/12/2024 Capital increase 30/06/2025 ACTIA Group shares - ISIN FR 0000076655 20,099,941 None 20,099,941 Note 15. Provisions The increase in this item over the first half is mainly due to the implementation of a reorganisation plan at ACTIA Railway. Provisions for this amounted to €2,232 thousand at 30 June 2025 (see Note 1). Note 16. Personnel benefits During the first half of 2025, provisions for pension and other long-term benefits fell by €238 thousand to €7,428 thousand at 30 June 2025. The actuarial difference recognised under Other Comprehensive Income corresponds to a decrease in the provision of €530 thousand. The assumptions underlying the calculation at 30 June 2025 changed as follows: Discount rate of 3.35% (3.35% at 31 December 2024) for the French companies, 9.98% (9.98% at 31 December 2024) for the Tunisian companies. The other assumptions underlying the calculation did not change. They may be adjusted on the basis of internal analyses of the payroll. Note 17. Trade payables, Other current liabilities, Corporate taxes (IS) Details of Trade payables, Other current liabilities and Corporate taxes (IS) are given below: In €K Net value at 31/12/2024 Changes over the period IFRS 5 Effect of exchange rates Changes in scope Net value at 30/06/2025 Suppliers of goods and services 79,298 6,575 0 (618) 0 85,255 Half-Yearly Financial Report – 30 June 2025 25 3. Condensed consolidated interim financial statements In €K Net value at 31/12/2024 Changes over the period IFRS 5 Effect of exchange rates Changes in scope Net value at 30/06/2025 Other operating liabilities 123,362 3,732 0 (253) 0 126,840 Corporate taxes (IS) 8,258 (5,878) 0 (145) 0 2,235 Note 18. Assets and liabilities held for sale In 2021, the Group launched a project to sell the Vehicle Inspection & Garage Equipment business including: The sale of its Garage Equipment and Vehicle Inspection business; The real estate site in Chartres, France; And the shares of its subsidiary ACTIA CZ. The Vehicle Inspection & Garage Equipment business had been presented in “Assets and liabilities held for sale” at 31 December 2021. The operation had been finalised on 21 April 2022 for €12 million, but with only 30% of ACTIA CZ shares, as the buyer did not have sufficient funds for the entire acquisition. The remaining 60% (ACTIA investments) was to be sold by early 2023 at the latest. The net impact of the operation was recognised in “Other operating revenue and expenses” for a negligible amount. At 31 December 2022, assets and liabilities of the ATAL subsidiary (formerly ACTIA CZ) remained in view of the upcoming sale. At 31 December 2023, the Group considered that the conditions for recording under “Assets and liabilities held for sale” were no longer met on the date when the financial statements were approved, as the buyer no longer expressed interest in acquiring the remaining 60%. On 29 November 2024, the minority shareholder holding 30% of ATAL’s capital exercised its option to purchase the 59.98% of shares held by the Group. ATAL’s assets and liabilities were classified as “Assets and liabilities held for sale”. ATAL’s assets and liabilities were measured at the lower of net book value and fair value. At 31 December 2024, an impairment loss of €928 thousand was recognised and classified under “Other operating revenue and expenses” in the consolidated income statement. ATAL was sold on 18 February 2025. 30/06/2025 31/12/2024 In €K Book value Fair value Impairment loss Book value Fair value Impairment loss Non-current assets 0 0 0 439 236 203 0 0 0 1,784 1,058 726 Current assets Assets held for sale 0 0 0 2,223 1,294 929 Non-current liabilities 0 0 0 0 0 0 0 0 0 292 292 0 Current liabilities Liabilities held for sale 0 0 0 292 292 0 Note 19. Operating segments In accordance with the provisions of IFRS 8, the information by operating segment is based on the approach taken by management, meaning the way in which management allocates resources depending on the performance of the different segments. Within the Group, the Chairman of the Board of Directors and CEO is the chief operating decision maker. The Group segments its activities into 4 Divisions (Mobility, Energy, Aerospace and Engineering Services). The types of activities conducted by each segment presented may be summarised as follows: The Mobility Division designs and produces on-board electronic equipment and systems to address the various challenges faced by terrestrial mobility in the areas of road and rail transport, goods and passenger transport, and agriculture and construction machinery. The wide range of solutions and associated services incorporates smart, Half-Yearly Financial Report – 30 June 2025 26 3. Condensed consolidated interim financial statements scalable technologies to enhance the user experience, promote the energy transition, contribute to the sustainability of vehicles, and accelerate the shift towards new generations of vehicles (software-defined vehicles, electric vehicles, autonomous vehicles, etc.). The Aerospace Division designs and produces on-board electronic systems for aeronautics and space, as well as complete, integrated solutions for satellite telecommunications. The Energy Division develops, integrates and implements innovative solutions for the management, transmission and distribution of electric power for major energy players. The Engineering Services Division designs and develops on-board products and systems, augmented with software services for the mobility and industrial sectors. In addition to these four operating divisions there is also: An “Others” heading that includes the holding company ACTIA Group S.A. and the SCI Les Coteaux de Pouvourville property management company (both accounted for by the equity method). During the first half of 2025, the key indicators by operating segment were as follows: 30/06/2025 In €K Mobility Aerospace Energy Engineering Other Inter- Total Division Division Division Services Divisions segments Division (*) Revenue 215,517 36,463 15,713 18,856 3,055 (23,186) 266,419 Provisions for depreciation (11,806) (908) (1,053) (706) (73) 0 (14,545) Current operating income (4,744) 1,097 (861) 2,873 (1,500) (167) (3,301) Impairment of goodwill 0 0 0 0 0 0 0 Operating income (4,676) 1,072 (929) 2,868 (1,504) (39) (3,209) Interest and financial costs (3,604) (556) (302) (93) (976) 906 (4,626) Financial instruments (6,618) 0 0 0 0 0 (6,618) Income tax (4) (16) 47 830 (127) 0 729 Net income for the period (14,689) 544 (1,194) 3,852 (1,893) 0 (13,380) EBITDA from continuing operations 6,774 1,846 (45) 3,812 (910) 0 11,477 TOTAL SEGMENT ASSETS 389,801 141,812 52,631 42,209 62,691 (92,468) 596,676 INVESTMENTS Intangible 3,075 730 1,620 9 0 0 5,434 Tangible 3,615 972 462 273 32 0 5,354 Financial (301) (169) 1 0 0 (469) TOTAL INVESTMENTS 6,389 1,533 2,082 283 33 0 10,319 TOTAL SEGMENT LIABILITIES 312,772 122,891 32,825 16,450 70,133 (92,468) 462,604 (*) Including €14,237 thousand in inter-segment revenue for the Mobility Division. Half-Yearly Financial Report – 30 June 2025 27 3. Condensed consolidated interim financial statements The information at 30 June 2024 has been restated as per the new segmentation of activities: 30/06/2024 In €K Mobility Aerospace Energy Engineering Other Inter- Total Division Division Division Services Divisions segments Division (*) Revenue 238,323 31,325 12,057 18,345 1,736 (22,315) 279,471 Provisions for depreciation (11,049) (745) (1,042) (545) (57) 0 (13,437) Current operating income (905) 753 (100) 3,579 (1,119) (303) 1,904 Impairment of goodwill 0 0 0 0 0 0 0 Operating income 18,706 633 (166) 3,579 (1,150) (25) 21,577 Interest and financial costs (3,819) (552) (239) (40) (837) 1,065 (4,421) Financial instruments 1,779 0 0 0 0 0 1,779 Income tax (3,849) 62 23 (542) (2,236) 0 (6,542) Net income for the period 13,020 170 (394) 2,991 (3,241) 0 12,547 EBITDA from continuing operations 29,277 1,253 694 4,109 (165) 0 35,168 TOTAL SEGMENT ASSETS 426,884 140,920 52,979 22,035 40,517 (60,995) 622,339 INVESTMENTS Intangible 5,025 1,167 1,448 23 0 0 7,664 Tangible 4,979 376 54 1,646 224 0 7,278 Financial (174) (0) 0 83 100 0 9 TOTAL INVESTMENTS 9,830 1,543 1,501 1,752 324 0 14,951 TOTAL SEGMENT LIABILITIES 309,834 123,517 32,682 15,377 49,921 (60,995) 470,336 (*) Including €13,658 thousand in inter-segment revenue for the Mobility Division. Half-Yearly Financial Report – 30 June 2025 28 3. Condensed consolidated interim financial statements Note 20. Income taxes The details of the Group’s income taxes are as follows: In €K H1 2025 H1 2024 Income from consolidated companies (13,465) 12,487 Current taxation (debit) 362 3,263 Deferred taxation (credit) (1,090) 3,280 Of which Deferred taxation on temporary differences (1,090) 3,279 Deferred taxation on changes in tax rates 0 1 Income from consolidated companies before tax (14,193) 19,029 Note 21. Financial Result There has been no material change to the type of financial result since 31 December 2024. The impact of financial instruments at fair value through profit and loss is given in Note 10.2. Note 22. Transactions with related parties The details of transactions with parties related to the Group that occurred during the first half of 2025 are presented below. Note 22.1 With the holding company: LP2C S.A. There has been no material change to the type or amount of transactions with LP2C S.A. since 31 December 2024. Note 22.2 With investments consolidated by the equity method There has been no material change to the type or amount of transactions with SCI Los Olivos and SCI Pouvourville since 31 December 2024. Note 22.3 With subsidiaries These are the companies included in the scope of consolidation of the Group (see Note 3 - Notes to the consolidated financial statements of the 2024 Annual Report). Note 22.4 With members of management bodies This is the compensation paid to individuals who are corporate officers of ACTIA Group S.A. : By ACTIA Group: Chairman and CEO and Directors; By LP2C, controlling company: Chairman and CEO and the Deputy CEOs There has been no material change to the compensation and benefits principles. Half-Yearly Financial Report – 30 June 2025 29 3. Condensed consolidated interim financial statements Note 23. Off-balance-sheet commitments and encumbered assets The off-balance-sheet commitments break down as follows: In €K 30/06/2025 31/12/2024 Commitments received Bank guarantees 8,511 12,743 Total commitments received 8,511 12,743 The above information does not include: Lease financing balances that are covered under Note 13 “Financial liabilities”, Lease financing commitments and operating leases, Interest on borrowings that are covered under Note 13 “Financial liabilities”, Foreign currency term sales commitments that are covered under Note 10.2 “Financial instruments at fair value through profit and loss”. Encumbered assets corresponds to assets serving as security against debts recognised under liabilities. They break down as follows: In €K 30/06/2025 31/12/2024 Assignment of trade receivables 4,638 5,448 Pledged research tax credit 9,979 9,979 Non-possessory pledge of stocks 3,000 3,000 Assignment of equipment 1,392 1,557 Mortgages/Security (land & buildings) 10,949 11,347 Total 29,957 31,331 Note 24. Risk factors The Group undertakes reviews of risks that may have a material adverse effect on its business, its financial health, its results, and its ability to achieve its objectives. The principal risks to which Group is exposed have been identified and are described in the 2024 Annual Report (Chapter 5). The most relevant and material risk factors identified at the date of publication of this Half-yearly Report are presented in this section. Other than the risks presented below, the Group considers that there are no other significant risks. Note 24.1 Liquidity risks The Company has undertaken a specific review of its liquidity risk and considers that it is in a position to meet its future commitments. Such reviews are undertaken on a regular basis in order to be prepared for any eventualities and to be able to provide a rapid response if necessary. A detailed study of financial debt, the cash position, net debt and debt including interest is provided under Note 13 “Financial liabilities”. Generally, the half-yearly accounts do not allow for the presentation of the medium-term financing required for investments in R&D for the year because these will be put in place mainly during the second half year, since the ACTIA file is processed after publication of the annual accounts. In 2025, the various partners had been contacted, but the processing times did not allow us to record the first financing agreements at 30 June. As this document went to press, we had received some initial favourable responses. For the Group, an entity’s risk of experiencing difficulties in meeting its financial obligations is linked to the level of amounts invoiced and the collection of receivables. In this respect, there are no difficulties to be reported. Half-Yearly Financial Report – 30 June 2025 30