Acteos: Revenue Falls by 35%, but Net Loss Halved

Revenue Details and Operational Nuances

Acteos' consolidated revenue stands at 8.4 million euros, down from 13.0 million in 2024, a decline of 35.3%. However, this drop tells only part of the story. The operational reality is more nuanced. The group sold its German subsidiary as of December 1, 2024, accounting for a significant part of the decline. On a comparable scope, excluding Germany over the twelve months of 2024, the decline would only be 8.9%. Acteos does not hide the second factor: the Mobility activity, historically significant, suffers from a major transformation in the logistics sector, with e-commerce players shifting towards automated lockers at the expense of traditional relay points. The real health indicator lies elsewhere: the Software activity, conducted exclusively in France, grew by 8.0% to 6.3 million euros, now representing 74.7% of total revenue. It benefits from an increase in the order book and the group's focus on this strategic and more profitable activity.

Beyond Revenue: Operational Indicators and Recovery

Beyond revenue, operational indicators reveal substantial recovery. EBITDA turned positive at nearly 700,000 euros, compared to a loss of 75,000 euros in 2024. Gross margin improved to 65.7% of revenue from 62.0% the previous year, reflecting directly the change in product mix in favor of Software. Operating results also improved significantly with a loss limited to 351,000 euros compared to a loss of 1.875 million euros in 2024. The group's net loss was halved to 629,000 euros. These figures demonstrate that the group has undergone disciplined restructuring. External expenses were more than halved, dropping from 26.7% to 16.2% of revenue. Staff numbers fell by 24%, leading to a 14% reduction in personnel expenses to 3.4 million euros. Notably, the second half of 2025 marked a return to operational profitability, after a loss concentrated in the first half.

Outlook for 2026: Strengthened Fundamentals

Acteos enters 2026 with strengthened fundamentals. Order intake reached a historic high of nearly 7 million euros in 2025, up 30%. The order book as of December 31, 2025, stands at 3.3 million euros, providing visibility into the start of 2026. This momentum stems from both the existing customer base's adoption of new offers and the acquisition of new clients, particularly in the agri-food sector. Recurring revenues (maintenance and SaaS) now account for over 50% of the Software activity at 3.3 million euros. Net cash stands at 1.6 million euros, up 13% from the end of 2024, while residual loans of 2.1 million euros are repayable between July 2026 and December 2027. The group aims to confirm its momentum in order intake and return to positive operational profitability throughout 2026, without sacrificing the strict cost management discipline that characterizes its transformation.