A successful first half
Revenue up 16% to more than €7.2m
Growth of 23% in the second quarter
Kerlink (AKLK FR0013156007), a specialist provider of networks and solutions for the Internet of Things (IoT), is publishing its H1 2025 revenue figures today.
As expected, the recovery in sales that began at the end of 2024 continued in the first half of 2025, with revenue up 16% to more than €7.2 million.After growth of 10% in the first quarter, the second quarter saw further strong momentum with revenue
topping €3.6 million, an increase of 23%.Growth driven by private operators: +18% in the first half
Revenue by area of activity In thousands of euros | H1 2025 | Q2 2025 | Q1 2025 | H1 2024 | Q2 2024 | Q1 2024 | Chg. H1 25 vs. H1 24 | ||
Private operators | 6,811 | 3,329 | 3,482 | 5,784 | 2,695 | 3,089 | +18% | ||
Smart Cities & Quality of Life | 2,063 | 883 | 1,180 | 1,876 | 527 | 1,350 | +10% | ||
Smart Building & Industry | 3,674 | 1,978 | 1,696 | 3,061 | 1,649 | 1,412 | +20% | ||
Smart Agriculture & Environment | 1,074 | 468 | 606 | 846 | 519 | 327 | +27% | ||
Historical and alternative telecom operators | 441 | 328 | 113 | 458 | 290 | 168 | -4% | ||
Total | 7,252 | 3,657 | 3,594 | 6,242 | 2,985 | 3,257 | +16% |
IFRS - Unaudited figures
Private operators were at the centre of this momentum in the first half, illustrating the relevance of repositioning commercial offers with this strategic customer base. Revenue on this market came to €6.8 million (94% of total activity), up 18% over the first half. Growth was particularly strong in the second quarter, with revenue rising by 24% to more than €3.3 million.
The Smart Agriculture & Environment and Smart Building & Industry segments both showed good momentum, with sales growth of 27% and 20% respectively over the first half.
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Revenue growth of 18% in EMEA (Europe - Middle East - Africa)
Revenue by geographic area In thousands of euros | H1 2025 | Q2 2025 | Q1 2025 | H1 2024 | Q2 2024 | Q1 2024 | Chg. H1 25 vs. H1 24 | ||
EMEA (Europe, Middle East & Africa) | 6,469 | 3,331 | 3,138 | 5,474 | 2,763 | 2,711 | +18% | ||
NCSA (Americas) | 529 | 219 | 311 | 356 | 88 | 268 | +49% | ||
APAC (Asia-Pacific) | 254 | 107 | 147 | 412 | 134 | 278 | -38% | ||
Total | 7,252 | 3,657 | 3,594 | 6,242 | 2,985 | 3,257 | +16% |
IFRS - Unaudited figures
Growth was driven by the EMEA region, which accounted for 89% of total activity and made half-year revenue of nearly €6.5 million, up 18%. The second quarter was significant for the region, with revenue reaching more than €3.3 million, an increase of 21%. The Americas region also turned in an encouraging performance, with revenue of €0.5 million, up 49%, driven in particular by new customers. In Asia, activity remained immaterial, representing less than 4% of first-half revenue.
Expected increase in gross margin despite a higher contribution from equipment sales
Revenue by type of sales In thousands of euros | H1 2025 | Q2 2025 | Q1 2025 | H1 2024 | Q2 2024 | Q1 2024 | Chg. H1 25 vs. H1 24 | ||
Equipment | 6,166 | 3,139 | 3,027 | 4,779 | 2,238 | 2,541 | +29% | ||
Services | 1,086 | 518 | 567 | 1,463 | 747 | 716 | -26% | ||
Total | 7,252 | 3,657 | 3,594 | 6,242 | 2,985 | 3,257 | +16% |
IFRS - Unaudited figures
Over the first half of the year, equipment sales rose by 29% to nearly €6.2 million. They accounted for 85% of total revenue for the period compared with 76.5% for the same period in 2024. This evolution of the product mix was driven by the integration of value-added solutions directly at the centre of infrastructure equipment to make them fully plug & play. That said, the development of recurring revenues remains a priority for the Group, as it aims to grow the contribution of services to total activity, together with the recovery in equipment sales.
Despite the strong contribution of equipment sales to the product mix, Kerlink should generate an increase in gross margin over the period.
Positive outlook for growth and improved results
Kerlink is approaching the second half of the year with confidence.
With a well-filled order book billable in the second half of the year as of the end of June and continued positive sales momentum despite a general tendency towards prudence due to the general economic environment, the Group confirmed it has the ability to generate solid growth this year.
Kerlink is also confident about its results. The return to growth, the expected increase in gross margin and good cost control mean it can anticipate a significant improvement in results from the first half of the year.
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About Kerlink
Kerlink Group is one of the world's leading providers of connectivity solutions for the design, rollout and operation of public and private networks dedicated to the Internet of Things (IoT). Its comprehensive portfolio of solutions includes industrial-grade network equipment, best-of-breed network core, network operations and management software, value-added applications and expert professional services, backed by strong R&D capabilities. More than 250,000 Kerlink installations have been deployed at more than 550 customers in 75 countries. Kerlink is a founding member and board member of the LoRa® Alliance and the uCIFI™ Alliance. It is listed on Euronext Growth Paris under the symbol ALKLK.
For more information, please visit our website at https://www.kerlink.com.
Kerlink®, Wirnet® and Wanesy® are registered trademarks of Kerlink SA and its subsidiaries around the world and must not be used without authorisation. All rights reserved.
Kerlink financial press contact: Actifin
Isabelle Dray
+33 (0) 1 56 88 11 29
isabelle.dray@seitosei-actifin.com
Kerlink press contact and market analysts: Mahoney Lyle
Sarah-Lyle Dampoux
+33 (0) 6 74 93 23 47
sldampoux@mahoneylyle.com
Kerlink investor contact:
Actifin Benjamin Lehari
+33 (0)1 56 88 11 25
benjamin.lehari@seitosei-actifin.com
Next publication
H1 2025 Results & Q3 Revenue:
14 October 2025 after the market closes
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