Ekinops H1 2025 revenue: 57.2 m€

Rhea-AI Summary

Ekinops (EKNPF) reported H1 2025 revenue of €57.2M, representing a slight decline of -1% compared to H1 2024. The company experienced mixed performance across segments, with Optical Transport rebounding +42% in Q2 while Access solutions declined -7%. Notable highlights include Software & Services growth of +22%, now representing 20% of total sales.

Geographically, international business grew +4%, accounting for 59% of revenue. Europe (excluding France) showed strong growth of +15%, while North America returned to growth in Q2 (+3%). The company completed the acquisition of Olfeo, a cybersecurity software provider, contributing €0.5M to H1 revenue since June 2025.

[ "Software & Services revenue grew +22% YoY, reaching 20% of total sales", "Optical Transport sales rebounded +42% in Q2 2025", "International business grew +4%, now representing 59% of total revenue", "Europe (excluding France) showed strong growth of +15% in H1 2025", "Strategic acquisition of Olfeo strengthens cybersecurity offerings" ]

Positive

• None.

Negative

• Overall H1 2025 revenue declined -1% to €57.2M
• Access solutions sales dropped -7% in H1 2025
• French market sales declined -6% following major customer reduction
• North America revenue decreased -9% in H1 2025 despite Q2 improvement

Optical Transport business and North America region return to growth in Q2 2025

PARIS, July 10, 2025 /PRNewswire/ -- EKINOPS (Euronext Paris - FR0011466069 - EKI), a leading supplier of telecommunications solutions for telecom operators and enterprises, reports its Q2 2025 revenue (1 April to 30 June 2025).

 

m€ - IFRS Non-audited data	2024	2025	Change
Q1 revenue	28.3	28.5	+1 %
Q2 revenue	29.2	28.7	-2 %
H1 revenue	57.5	57.2	-1 %

 

In Q2 2025, Ekinops reported consolidated revenue of 28.7 m€, a decline of -2% compared to Q2 2024. The change is identical at constant scope and exchange rates¹. Sequentially, Ekinops' Q2 2025 revenue was up +1% relative to Q1 2025. Over H1 2025, Ekinops' revenue came to 57.2 m€, nearly identical to H1 2024 (-1% at constant scope and exchange rates^[1]).

Olfeo, the French provider of SSE (Secure Service Edge) cybersecurity software, acquired at the end of May 2025 and consolidated since 1 June 2025, contributed 0.5 m€ to H1 2025 revenue.

+10% rebound in Optical Transport, decline in Access in H1 2025

Following a -16% decline in Q1, sales of Optical Transport equipment rebounded sharply by +42% in Q2, driven by several major equipment deployment projects in Europe, particularly in Germany, and the gradual acceleration of deliveries of the new 800G solution.

On a sequential basis, Optical Transport sales increased by +30% in Q2 2025 compared with Q1.

Over H1 2025, Optical Transport sales grew by +10%.

Sales of Access solutions, on the other hand, declined by -7% (+11% in Q1 and -23% in Q2), penalized by a -10% drop in sales in France, Ekinops' main market for this activity (59% of Access business). The decline in France is solely concentrated on Ekinops' largest customer, which had recorded strong growth in 2024 (+21%). All other accounts are stable or showing significant growth in H1 2025.

Software & Services up +22%, representing 20% of total sales

At the end of H1 2025, sales generated by Software & Services showed strong growth of +22%, driven by Ekinops' service offerings and the consolidation of Olfeo since 1 June 2025.

At mid-year, Software & Services accounted for 20% of the Group's revenue, compared to 17% a year earlier and 18% for FY 2024.

Growth in North America in Q2, decline in France

Starting in Q2 2025, Ekinops has updated the geographic breakdown of its revenue into the following regions: France, Europe (excluding France), North America, and Rest of the World^[2]. This new geographic structure aims to better reflect the dynamics of its markets and provide a more balanced and relevant view of regional performance, notably by grouping areas with a marginal impact on the Group's business under "Rest of the World".

In France, half-year sales declined by -6%, following a strong growth in 2024 (+18%), impacted by a drop in Access solutions sales in Q2, concentrated on the largest customer. In Optical Transport, France recorded a +6% increase during the period. Ekinops generated 41% of its revenue in its domestic market in H1 2025.

H1 2025 was marked by a +4% growth in Ekinops' international business, which now accounts for 59% of the Group's total revenue (compared to 56% a year earlier and identical for FY 2024).

In North America, sales returned to growth in Q2 (+3% at current exchange rates and +9% in USD), following a decline of -20% (-22% in USD) in Q1, driven mostly by the rebound in Optical Transport equipment sales, the Group's main activity in the region. Sequentially, sales showed a growth of +6% in Q2 2025 compared to the previous quarter. For the entire half-year, sales are down -9% (-8% at constant exchange rates). Ekinops generated 20% of its revenue in North America during H1 2025.

In Europe (excluding France), sales showed strong increase of +15% for H1 2025. This solid growth was driven by a significant increase in Optical Transport solution sales in the region (+52%), particularly in Germany, while Access solution sales remained stable. Ekinops generated 33% of its business in Europe.

In the Rest of the World, which accounts for 6% of the Group's activity, half-year sales remained nearly stable and were broadly balanced between Optical Transport and Access solutions.

Outlook

In line with the trend observed in North America in Q2, Ekinops is betting on a gradual recovery of the telecommunications market over the coming quarters, while also implementing the first actions of its new strategic plan, Bridge, notably with the acquisition of Olfeo, a French provider of SSE (Secure Service Edge) cybersecurity software. This merger creates a leading European player in the network cybersecurity market, specifically in the fast-growing SSE and SASE (Secure Access Service Edge) segments.

Financial calendar can be found here.

All press releases are published after Euronext Paris market close.

^[1] Excluding Olfeo
^[2] The previous breakdown was France, EMEA (Europe, excluding France, the Middle East & Africa), North America, and Asia-Pacific. The breakdown of consolidated revenue for Q2 and H1 2025, according to the previous structure, is available on  the Ekinops website.

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SOURCE Ekinops

FAQ

What was Ekinops (EKNPF) revenue for H1 2025?

Ekinops reported H1 2025 revenue of €57.2M, representing a slight decline of -1% compared to H1 2024.

How did Ekinops' Optical Transport segment perform in Q2 2025?

The Optical Transport segment showed a strong rebound of +42% in Q2 2025, driven by major equipment deployment projects in Europe, particularly in Germany, and accelerated deliveries of the new 800G solution.

What was the growth rate of Ekinops' Software & Services segment in H1 2025?

Software & Services segment grew +22% in H1 2025, now representing 20% of total revenue, up from 17% a year earlier.

How did Ekinops perform in different geographical regions during H1 2025?

In H1 2025, Europe (excluding France) grew +15%, France declined -6%, North America decreased -9%, while Rest of World remained stable. International business overall grew +4%, representing 59% of total revenue.

What impact did the Olfeo acquisition have on Ekinops' H1 2025 results?

Olfeo, acquired in May 2025 and consolidated since June 1, 2025, contributed €0.5M to H1 2025 revenue and strengthened Ekinops' position in network cybersecurity, particularly in SSE and SASE segments.