Dolfines Reports a Revenue of 6.92 Million Euros in 2025, Down by 33%
The operational excellence consulting group Dolfines announces a revenue of 6.92 million euros for the year 2025, a 33% decrease compared to 2024. This decline is mainly due to the divestiture of the Technical Audit activities of 8.2 Advisory on June 1, 2025, and the loss of two major contracts within the group.
Financial Performance and Contributing Factors
Dolfines, a company specializing in operational excellence consulting in engineering and services for renewable and conventional energies, recorded a revenue of 6.92 million euros for the year 2025, according to a statement released on January 29, 2026. This performance represents a 33% decrease from 2024. Adjusted for the divestiture of the Technical Audit activities of 8.2 Advisory, which took place on June 1, 2025, the revenue decline stands at 25%. The divested Technical Audit activities had accounted for nearly 1 million euros in revenue over the last seven months of 2024. Dolfines SA, the parent company, saw a 20% decrease in revenue throughout 2025. The decline was primarily due to the non-renewal of a significant contract with an offshore wind turbine manufacturer, not offset by lower-than-expected revenue from the ADNOC and PDO framework contracts signed earlier in the year. Aegide International experienced a 22% revenue decrease in 2025 due to the loss of a contract with a major French mining company. Additionally, revenue billed on a major mining framework contract in West Africa was lower than anticipated. The subsidiary 8.2 Advisory saw a significant mechanical decrease in revenue following the divestiture of its Technical Audit activities. The Consulting activity also suffered from a broad renewal of the team. Furthermore, the conversion of revenue billed in US dollars by the Abu Dhabi office into euros represented a loss of about 100,000 euros for the year due to the appreciation of the euro/dollar exchange rate in 2025.
Revenue Summary by Entity
The revenue breakdown by entity for 2025 shows the following performances: Dolfines SA recorded 3.22 million euros compared to 4.04 million euros in 2024, a decrease of 20%. Aegide International posted 8.2 million euros in 2025 versus 11.5 million euros in 2024, down by 22%. The subsidiary 8.2 Advisory, whose Technical Audit activities were divested on June 1, 2025, recorded 2.22 million euros in 2025. Dolfines Latam generated 0.33 million euros compared to 0.40 million euros in 2024, a decrease of 17%. For 2026, Dolfines will focus on optimizing account management to increase the rate and timing of conversion of its offers, as well as the volume of business with the existing 300 clients. The commercial offer volume remains substantial with 29 million euros of offers made in 2025. The ongoing offer pipeline stands at 6.5 million euros. The group will continue to promote HSE services to Drilling clients and will capitalize on the training partnership with Asia Edge signed in December 2025 to increase its client base.
Company Overview
Founded in 2000, Dolfines is an operational excellence consulting firm, an independent specialist in engineering and services for the renewable and conventional energy industry. The group is labeled as an innovative company and is ISO 9001 certified for its technical assistance, audit, inspection, and engineering activities. Dolfines is listed on Euronext Growth under the ISIN code FR001400SP13 and the mnemonic ALDOL. It is eligible for the PEA-PME.
