Revenue down 8% (-3% at constant exchange rates)
Gross margin up thanks to a favorable business mix
Half-year results expected to improve significantly compared to 2024
Madrid, 29 July, 2025 - 8:00 am - ISPD (ISIN ES0109429037), an international group specializing in communication and marketing services, today presents its consolidated revenues for H1 2025, ending 30 June.
(In million euros) H1 2025
H1 2024
Change
Consolidated revenues (1) 61.0
69.5
-12%
Net revenues (2) 60.9
69.2
-12%
Net pro forma revenues (3) 66.0
71.4
-8%
Pro forma revenues by segment (€m) Publishing 2.2
2.1
+5%
Technology and Marketing Services 8.4
7.3
+15%
Digital Media Trading 55.5
62.1
-11%
- Excluding intra-group sales: €4.4 million in H1 2025 (€7.2 million in H1 2024)
- Revenues less volume discounts on ad sales
- Pro forma revenue calculated by reintegrating media investments managed by ISPD but billed directly to customers by the platforms
"ISPD confirms the start of the recovery that was expected in the US this half-year. Solid growth in Europe, driven by higher-margin activities, offset the temporary decline in revenue in Latin America. In markets disrupted by an unstable geopolitical environment, the Group's broad offering and geographical reach enable it to confirm growth for 2025." says Fernando Rodés, CEO of ISPD.
- First-Half highlights_____________________________________________________________
An 8% "technical" decline in revenue due to the advertising investment schedule of a major customer, whose campaigns were postponed to H2, and the impact of exchange rates on the dollar.
At constant exchange rates, the decline in activity is reduced to 3%.
A balanced distribution of pro forma revenue across the three markets: US 34% (31% in H1 2024), Latin America 33% (47% in H1 2024), Europe 33% (22% in H1 2024).
The investment schedule impact, Mexican peso and dollar effects relate to Digital Media Trading services (-11% to €55.5 million), which should continue to grow over the year with revenue deferrals to the second half.
Continued growth in Technology and Marketing Services (+15% to €8.4 million), driven by the e-commerce offerings of the B2M and Rocket PPC subsidiaries.