Business
Memscap: H1 2025 Results
GRENOBLE, France, August 29, 2025--Regulatory News: MEMSCAP (Euronext Paris: MEMS), leading provider of high-accuracy, high-stability pressure sensor solutions for the aerospace and medical markets using MEMS technology (Micro Electro Mechanical Systems), today announced its earnings for the first half of 2025 ending June 30, 2025.
About this update from Memscap Sa
STRENGTH OF AEROSPACE ACTIVITIES, KEY DRIVER OF THE GROUP’S PERFORMANCE AND PROFITABILITY REVENUE OF €6,144K, UP 14% COMPARED TO H2 2024 CONSOLIDATED GROSS MARGIN RISING TO 41.8% OPERATING INCOME OF €534K (9% OF REVENUE) NET PROFIT OF €363K (6% OF REVENUE) IN A GEOPOLITICAL AND ECONOMIC UNCERTAINTY CONTEXT ROBUST BALANCE SHEET WITH A STRONG NET CASH POSITION STRATEGIC PATH CONFIRMED WITH THE INDUSTRIALIZATION OF "ENGINE CONTROL" MODULES SOLID OUTLOOK SUPPORTED BY A SUSTAINABLE AND PROFITABLE INDUSTRIAL MODEL INVESTOR CONFERENCE CALL TUESDAY, SEPTEMBER 2, 2025 AT 9:30 AM GRENOBLE, France, August 29, 2025 --( BUSINESS WIRE )--Regulatory News: MEMSCAP (Euronext Paris: MEMS), leading provider of high-accuracy, high-stability pressure sensor solutions for the aerospace and medical markets using MEMS technology (Micro Electro Mechanical Systems), today announced its earnings for the first half of 2025 ending June 30, 2025. Analysis of consolidated revenue In accordance with the previous quarterly press releases, consolidated revenue from continuing operations for the first half of 2025 amounted to EUR 6,144 thousand compared to EUR 7,275 thousand for the first half of 2024. Over the first half of 2025, the distribution of consolidated revenue from continuing operations by market segment is as follows: (Any apparent discrepancies in totals are due to rounding.) Consolidated revenue from continuing operations for the first half of 2025 decreased by 16% compared to the first half of 2024, but rose by 14% versus the second half of 2024. The decline compared to the first half of 2024 is directly attributable to the Group’s medical activities, which were impacted by a major customer undergoing regulatory compliance upgrades of its systems. As a result, sales in the medical segment amounted to EUR 658 thousand in the first half of 2025 (vs. EUR 1,664 thousand in the first half of 2024), representing a decline of EUR 1,006 thousand year-on-year. This segment accounted for 11% of consolidated Group revenue in the first half of 2025 (vs. 23% in the first half of 2024). As the Group’s largest market, the aerospace segment generated revenue of EUR 4,729 thousand in the first half of 2025, compared to EUR 4,899 thousand in the first half of 2024, a limited decline of 3% relative to a particularly strong the first half of 2024. This underscores the resilience of aerospace sales in a highly unstable macroeconomic and industry context. The segment represented 77% of the Group’s consolidated revenue in the first half of 2025, up from 67% in the first half of 2024. The optical communications business, which includes the design and marketing of variable optical attenuators (VOA) based on a fabless model, recorded consolidated revenue of EUR 717 thousand in the first half of 2025 (vs. EUR 667 thousand in the first half of 2024), representing 12% of total consolidated revenue (vs. 9% in the first half of 2024). Lastly, royalties from licensed trademarks related to the dermo-cosmetics business totalled EUR 40 thousand in the first half of 2025, a similar level compared to EUR 45 thousand in the first half of 2024. Analysis of consolidated income statement MEMSCAP’s consolidated earnings for the first half of 2025 are given within the following table: (Financial data were subject to a limited review by the Group’s statutory auditors. On August 29, 2025, MEMSCAP’s board of directors authorized the release of the interim condensed consolidated financial statements on June 30, 2025. Any apparent discrepancies in totals are due to rounding.) * Net of research & development grants. For the first half of 2025, the gross margin rate stood at 41.8% of consolidated revenue, compared to 40.4% in the first half of 2024. Despite a negative volume effect from the medical segment, the H1 2025 margin benefited from a favourable product mix. As a result, gross margin amounted to EUR 2,567 thousand in the first half of 2025, versus EUR 2,936 thousand in the first half of 2024. Operating expenses, net of grants, totalled EUR 2,033 thousand in the first half of 2025, a similar level compared to the first half of 2024. The Group’s average full-time equivalent headcount decreased from 61.8 in the first half of 2024 to 56.3 in the first half of 2025. As a result, operating profit from continuing operations amounted to EUR 534 thousand (9% of consolidated revenue), compared with EUR 899 thousand (12%) in the first half of 2024. Financial result showed a loss of EUR 165 thousand in the first half of 2025, mainly due to fluctuations in the US dollar and Norwegian krone exchange rates, versus a gain of EUR 110 thousand in the first half of 2024. The tax charge recognized in H1 2025 and H1 2024 relates to movements in deferred tax assets and has no impact on the Group’s cash position. Accordingly, the Group posted net profit of EUR 363 thousand in the first half of 2025, representing 6% of consolidated revenue, compared to EUR 992 thousand (14%) in the first half of 2024. Evolution of the Group’s cash / Consolidated shareholders’ equity Adjusted EBITDA¹ from continuing operations for the first half of 2025 amounted to EUR 738 thousand, representing 12% of consolidated revenue, compared to EUR 1,410 thousand (19%) in the first half of 2024. As of June 30, 2025, the Group reported available net liquidity (after borrowings) of EUR 5,465 thousand (December 31, 2024: EUR 5,426 thousand), including cash and cash equivalents as well as financial investments recognized under other non-current financial assets. At the same date, MEMSCAP’s shareholders’ equity increased to EUR 18,564 thousand, compared to EUR 18,270 thousand as of December 31, 2024. 1 Adjusted EBITDA means operating profit before depreciation, amortisation, share-based payment charge (IFRS 2) and including foreign exchange gains/losses related to ordinary activities. Perspectives For the first half of 2025, MEMSCAP reported adjusted EBITDA of EUR 738 thousand (12% of consolidated revenue) and an operating profit of EUR 534 thousand. Despite unfavourable exchange rate effects and a significant decline in sales volumes in the medical segment, the Group achieved solid operating profitability and reported a net profit for the period. While consolidated revenue for the first half of 2025 declined by 16% compared to the first half of 2024, it rose by 14% relative to the second half of 2024. In an environment marked by economic uncertainty and cautious customer behaviour, MEMSCAP remains committed to delivering profitable growth, underpinned by its core strengths, robust technological barriers, and sustainable business model. The ongoing development of its "Engine Control" product line supports the Group’s long-term growth ambitions, while efforts to further strengthen operational and financial performance remain a priority. Shareholders and investors video conference - Tuesday, September 2, 2025, at 9:30 AM Registration link: https://app.livestorm.co/euroland-corporate/memscap-webinaire-actionnaires-resultats-semestriels?s=3a5c5139-7421-4633-b5fd-009bc3d4b1fc You may submit your questions in advance at: https://memscap.com/en/visio/ Q3 2025 earnings: October 28, 2025 About MEMSCAP MEMSCAP is a leading provider MEMS based pressure sensors, best-in-class in term of precision and stability (very low drift) for two market segments: aerospace and medical. MEMSCAP also provides variable optical attenuators (VOA) for the optical communications market. For more information, visit our website at: www.memscap.com MEMSCAP is listed on Euronext Paris (Euronext Paris - Memscap - ISIN code: FR0010298620 - Ticker symbol: MEMS) CONSOLIDATED STATEMENT OF FINANCIAL POSITION Interim condensed consolidated financial statements at 30 June 2025 CONSOLIDATED STATEMENT OF INCOME Interim condensed consolidated financial statements at 30 June 2025 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME Interim condensed consolidated financial statements at 30 June 2025 CONSOLIDATED STATEMENT OF CHANGES IN EQUITY Interim condensed consolidated financial statements at 30 June 2025 CONSOLIDATED CASH FLOW STATEMENT Interim condensed consolidated financial statements at 30 June 2025 View source version on businesswire.com: https://www.businesswire.com/news/home/20250829145086/en/ Contacts Yann Cousinet Chief Financial Officer Ph.: +33 (0) 4 76 92 85 00 [email protected]