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Alkemy
Earnings Release • May 15, 2025
4397_ir_2025-05-15_e44084f0-cabf-4561-a5f7-ce9b752d1d1d.pdf
Earnings Release
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| Informazione Regolamentata n. 20116-37-2025 |
Data/Ora Inizio Diffusione 15 Maggio 2025 17:35:36 |
Euronext Star Milan | |
|---|---|---|---|
| : | |||
| Societa' | ALKEMY | ||
| Identificativo Informazione Regolamentata |
: | 205753 | |
| Utenza - referente | : | ALKEMYN03 - Benasso Claudio | |
| Tipologia | : | REGEM | |
| Data/Ora Ricezione | : | 15 Maggio 2025 17:35:36 | |
| Data/Ora Inizio Diffusione | : | 15 Maggio 2025 17:35:36 | |
| Oggetto | : | Alkemy S.p.A.- The Board of Directors approved the Interim Financial Report at March 31, 2025 |
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| Testo del comunicato |
Vedi allegato
ALKEMY S.P.A.
IN THE FIRST QUARTER 2025 TURNOVER SLIGHTLY DECLINING (-1%) DESPITE THE POSITIVE PERFORMANCE RECORDED BY THE ITALIAN SUBSIDIARIES
The Board of Directors of Alkemy S.p.A. today approved the Interim Financial Report at March 31, 2025.
- Q1 2025 consolidated turnover at Euro 28.0 million, -1.2% compared to Euro 28.4 million in Q1 2024.
- Q1 2025 Adjusted EBITDA1 at Euro 1.5 million, -33.2% if compared to Q1 2024 (Euro 2.3 million). Q1 2025 Adjusted EBITDA margin2 at 5.5%, -2.7 percentage points if compared to Q1 2024 (8.2%), mostly due to higher operating costs.
- Q1 2025 non-recurring costs at Euro 0.6 million (Euro 0.1 million in Q1 2024), mostly due to extraordinary personnel costs.
- Q1 2025 EBIT negative at Euro -0.5 million compared to a positive result at Euro 0.9 million in Q1 2024.
- Q1 2025 EBT negative at Euro -1.0 million (Euro 0.4 million in Q1 2024).
- Q1 2025 consolidated Net Result negative at Euro -0.8 million, compared to a Net Profit at Euro 0.2 million n Q1 2024.
- Q1 2025 net Operating Cash Flow at Euro 0.8 million, compared to Euro 4.1 million in Q1 2024, mainly as a result of Net Working Capital dynamics.
- Group Net Financial Position (NFP) at March 31, 2025, was negative at Euro -26.1 million, slightly declining compared to December 31, 2024, NFP (Euro -25.8 million), mostly due to the increase in debts towards banks and other financiers.
2 Adjusted EBITDA margin is the ratio between Adjusted EBITDA and consolidated turnover.
1 Adjusted EBITDA: Net operating revenues minus operating costs excluding non-recurring expenses and income.
Milan, May 15, 2025 – The Board of Directors of Alkemy S.p.A. ("Alkemy", "the Company" or "the Group"), a leading company in the business model evolution of large and medium-sized companies listed on Euronext STAR Milan of Borsa Italiana (ALK), today approved the Interim Financial Report at March 31, 2025.
Financial Data Analysis
Group Turnover in Q1 2025 declined slightly at Euro 28.0 million, compared to Euro 28.4 million in Q1 2024 (-1.2%). This result is mostly due to the negative performance of some of the foreign subsidiaries, partially offset by the trends recorded in the Italian subsidiaries.
Revenues in Italy, representing the 64.8% of total turnover, grew +1.2% YoY at Euro 18.2 million (Euro 18.0 million in Q1 2024).
In Q1 2025, Group foreign companies recorded an overall turnover decline of 5.4%. This result is due to the negative performance of some foreign subsidiaries, partially offset by the increase in revenues recorded by Alkemy Latam and Innocv Solutions.
Q1 2025 Adjusted EBITDA at Euro 1.5 million, -33.2% if compared to Q1 2024 (Euro 2.3 million), mainly due to the higher operating costs recorded. In particular, net of non-recurring costs, the costs for services increased by 1.1%, whereas the personnel costs increased by 2.1% with a decrease of the average number of employees that went from the 922 units in Q1 2024, to 902 units in Q1 2025.
Q1 2025 Adjusted EBITDA margin was 5.5%, down by 2.7 pps compared to Q1 2024 (8.2%).
Q1 2025 non-recurring costs at Euro 0.6 million (Euro 0.1 million in Q1 2024), mostly related to higher personnel one-off costs.
Q1 2025 EBIT negative at Euro -0.5 million, compared to Euro 0.9 million in Q1 2024. Q1 2025 EBT negative at Euro -1.0 million, compared to Euro 0.4 million in Q1 2024.
Q1 2025 Net Result for the Period at Euro -0.8 million, compared to Euro 0.2 million in Q1 2024.
Net operating cash flow at March 31, 2025, was positive at Euro 0.8 million, down compared to Euro 4.1 million in Q1 2024, mostly as a consequence of the lower Net Result of the period and of Net Working Capital dynamics.
Group Net Financial Position (NFP) on March 31, 2025, was negative at Euro -26.1 million, slightly declining compared to December 31, 2024 NFP at Euro -25.8 million. The change (Euro -0.3 million) is mostly due (i) to the increase of debts towards banks and other financiers (Euro -0.5 million) and (ii)to the repayment of the envisaged installments of the amortization plans (Euro +0.4 million).
Outlook
At the date of approval of the Consolidated Interim Report at March 31, 2025, it is believed that the evolution of the business performance in the next few months of the current financial year foresees a moderate recovery in Revenues for the Group, especially starting from the second half of the year. Likewise, in terms of margins, the expectation is for a partial recovery starting from the third quarter of the year, due both to the cost rationalization carried out in the first months of 2025, and to the positive developments of the commercial activities already implemented and in progress, which predict an improvement in overall results, with higher profitability.
The Manager in charge of preparing the corporate accounting documents, Claudio Benasso, pursuant to paragraph 2 of art. 154-bis of the Consolidated Law of Finance, declares that the accounting information contained in this press release corresponds to the documentary results, books, and records accounting.
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The financial schemes in annex are in line with the contents of the Interim Financial Report at March 31, 2025, approved today by the Board of Directors. ***
The Interim Financial Report at March 31, 2025, will be made available to the public, in accordance with the law, at the registered office, located in Via San Gregorio 34, Milan (MI), in the "Investor Relations" section of the Company's website (www.alkemy.com) and on the eMarket Storage mechanism ().
ANNEX
CONSOLIDATED PROFIT & LOSS OF ALKEMY GROUP
| Values in Euro/000 | ||
|---|---|---|
| Q1 2025 | Q1 2024 | |
| Revenues | 27,493 | 27,963 |
| Other Proceeds | 550 | 434 |
| Total operating revenues | 28,043 | 28,397 |
| Costs for services, goods, and other operating costs | (13,005) | (12,728) |
| - of which non recurrent | (172) | (37) |
| Personnel costs | (14,055) | (13,427) |
| - of which non recurrent | (393) | (41) |
| Total operating costs | (27,060) | (26,155) |
| EBITDA | 1,548 | 2,320 |
| 983 | 2,242 | |
| Adjusted EBITDA | ||
| D&A | (1,141) | (1,208) |
| Provisions and write-downs | (377) | (156) |
| Operating result | (535) | 878 |
| 87 | 164 | |
| Other financial income | ||
| Other financial charges | (522) | (615) |
| Profit (Loss) before taxes | (970) | 427 |
| Income taxes | 134 | (189) |
| Profit (Loss) for the period | (836) | 238 |
| Attributable to: | ||
| - Group | (792) | 219 |
| - Minorities | (44) | 19 |
Consolidated Balance Sheet of Alkemy Group
| Values in Euro/000 | |||
|---|---|---|---|
| Assets | Mar. 31, 2025 | Dec. 31, 2024 | |
| Non-current assets | |||
| Property, plant, and equipment | 1,827 | 1,864 | |
| Rights of Use assets | 5,006 | 5,406 | |
| Goodwill | 42,764 | 42,766 | |
| Intangible assets | 3,218 | 2,984 | |
| Minorities | 5 | 5 | |
| Other financial assets | 21 | 33 | |
| Deferred tax assets | 2,986 | 2,765 | |
| Other non-current receivables and assets | 576 | 595 | |
| Total non-current assets | 56,403 | 56,418 | |
| Current assets | |||
| Trade receivables | 36,866 | 39,939 | |
| Other financial assets | 12 | 26 | |
| Tax credits | 1,614 | 1,630 | |
| Other current assets | 2,893 | 2,423 | |
| Cash and Cash equivalents | 10,669 | 10,684 | |
| Total current assets | 52,054 | 54,702 | |
| Total assets | 108,457 | 111,120 |
Consolidated Balance Sheet of Alkemy Group
| Values in Euro/000 | |||
|---|---|---|---|
| Liabilities and Group Equity | Mar. 31, 2025 | Dec. 31, 2024 | |
| Equity | |||
| Share Capital | 606 | 596 | |
| Reserves | 33,830 | 46,820 | |
| Net income (Loss) for the period | (792) | (14,759) | |
| Group Equity | 33,644 | 32,657 | |
| Minorities | 455 | 500 | |
| Total Equity | 34,099 | 33,157 | |
| Non-current liabilities | |||
| Financial liabilities | 11,705 | 9,775 | |
| Rights of Use liabilities | 3,221 | 3,540 | |
| Put option and earn-out liabilities | 7,268 | 7,198 | |
| Employees' leaving entitlement | 7,149 | 7,125 | |
| Provisions | 12 | 22 | |
| Deferred Tax liabilities | 21 | 19 | |
| Other liabilities | 19 | 30 | |
| Total non-current liabilities | 29,395 | 27,709 | |
| Current liabilities | |||
| Financial liabilities | 9,907 | 11,305 | |
| Rights of use liabilities | 1,994 | 2,084 | |
| Put option and earn-out liabilities | 2,648 | 2,623 | |
| Trade payables | 17,797 | 17,954 | |
| Tax liabilities | 2,338 | 2,159 | |
| Other liabilities | 10,279 | 14,129 | |
| Total Current liabilities | 44,963 | 50,254 | |
| Total liabilities | 74,358 | 77,963 | |
| Total liabilities and Group Equity | 108,457 | 111,120 |
CONSOLIDATED CASH FLOW STATEMENT OF ALKEMY GROUP
| Values in Euro/000 | ||
|---|---|---|
| Mar. 31, 2025 | Mar. 31, 2024 | |
| Operating activities | ||
| Net profit (loss) for the period | (836) | 238 |
| Financial income | (87) | (164) |
| Financial charges | 522 | 615 |
| Income taxes | (134) | 189 |
| D&A | 1,141 | 1,208 |
| Provisions and write-downs | 377 | 156 |
| Share-based compensation | - | 10 |
| Change in trade receivables | 2,696 | 7,241 |
| Change in trade payables | (150) | (569) |
| Decrease (increase) in other assets | (373) | (1,096) |
| Increase (decrease) in other liabilities | (2,032) | (3,384) |
| Cash flow generated (absorbed) by operating activities | 1,124 | 4,444 |
| Paid financial charges | (285) | (262) |
| Paid income taxes | (61) | (76) |
| Net Cash flow generated (absorbed) by operating activities | 778 | 4,106 |
| Investment activities | ||
| (Investment) disinvestment of tangible and intangible assets | (773) | (495) |
| Net Cash flow generated (absorbed) by investment activities | (773) | (495) |
| Financing activities | ||
| Change in financial debt | 552 | (2,998) |
| Change in IFRS 16 financial liabilities | (572) | (570) |
| Change in treasury shares | - | (43) |
| Net Cash Flow generated (absorbed) by financial activities | (20) | (3,611) |
| Increase (decrease) of net cash position for the period | (15) | - |
| Cash at the beginning of the period | 10,684 | 12,029 |
| Cash at the end of period | 10,669 | 12,029 |
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Alkemy S.p.A. works to improve the market positioning and competitiveness of large and medium-sized companies by stimulating the evolution of their business models in line with technological innovation and consumer behavior. Alkemy integrates skills and expertise in the areas of Consulting, Data & Analytics, Digital Marketing, Brand and Product Design and Technology, with an offering designed for our post-digital environment and covering the entire chain of value, from strategy to implementation.
Contacts
Investor Relations & Sustainability
Emanuela Salvini | [email protected] | +39 320 1796 890
| Fine Comunicato n.20116-37-2025 | Numero di Pagine: 10 |
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