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LUMIBIRD
Earnings Release • Jul 28, 2025
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Earnings Release
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Lannion, 28 July 2025 - 5.45pm
H1 2025 REVENUE UP 9.0% TO €106.8 MILLION
The Lumibird Group (FR0000038242 - LBIRD), European leader in laser technologies, posted consolidated revenue of €106.8 million in the first half of 2025, up 9% (+9.1% on a like-for-like basis): +8.6% for the Photonics division and +9.4% for the Medical division.
In the second quarter, the Medical division continued its growth trajectory. The Photonics division (+3.1% in Q2) continues to be driven by Defense/Space activities (+25%) but is temporarily slowed by ETS activities and the timing of orders and deliveries for Medtech activities. However, the Photonics backlog is high for the coming quarters. The consolidated revenue level, combined with optimized production management, allows the Group to anticipate strong EBITDA growth for the half-year, both for the Photonics and Medical divisions.
| Revenues (€M) | 2025 | 2024 | Reported change |
On a like-for like basis |
|---|---|---|---|---|
| 1 st quarter |
49.4 | 43.9 | +12.4% | +11.7% |
| nd quarter 2 |
57.4 | 54.1 | +6.3% | +6.9% |
| st half-year 1 |
106.8 | 98.0 | +9.0% | +9.1% |
| of which | ||||
| Photonics | 51.3 | 47.2 | +8.6% | +8.4% |
| Medical | 55.6 | 50.8 | +9.4% | +9.7% |
Consolidated revenues (unaudited)
By division
The Photonics division rose 8.6% over the half-year, with slower growth in the second quarter at 3.1%.
Second-quarter Photonics revenue continued to be driven by Defense/Space activities (+25% to €14.7 million), although the major contracts announced since the beginning of the year have yet to have a significant impact on sales.
Industrial and Scientific activities declined by 6.2% in Q2 to €7.4 million with a reduction in orders from laboratories in the US, but will benefit in the coming months from the production of the Continuum product ranges, which is ramping up at the Bozeman (USA) and Villejust (France) sites.
As in the first quarter, the Medtech business (down 23% to €2.7 million) is subject to the phasing of orders and deliveries, which are concentrated in the second half of the year.
The ETS business (down 24% to €2.6 million) is impacted by declining sales in the Topography segment. In the Environment segment, the new Wind Lidar range (6xBEAM) is in the launch phase, with orders expected to gradually pick up over the coming months.
The Medical division grew by 9.4% in the first half of the year, with revenue of €55.6 million. Growth in the second quarter was in line with the first quarter, driven in particular by the impact of
the commercial organisation in place and the granting of several marketing authorizations that had been expected for several quarters. The breakdown of sales in H1 was 23.5% for diagnostic equipment and 76.5% for laser treatment products.
By geographical area
The breakdown of revenues by geographical area is as follows:
| H1 revenues (€m) | Photonics | Chge / 2024 |
Medical | Chge / 2024 |
|---|---|---|---|---|
| EMEA | 30.9 | 10.9% | 17.3 | -0.2% |
| Americas | 9.4 | 39.4% | 14.6 | 3.5% |
| Asia-Pacific | 5.6 | -26.5% | 16.4 | 18.6% |
| Rest of the world | 5.4 | 7.3% | 7.3 | 31.0% |
| Total | 51.3 | +8.6% | 55.6 | +9.4% |
Unaudited data
As in the first quarter, growth in the Photonics division in Europe was driven by momentum in the Defense/Space business. Growth in the Americas region remained buoyed by the integration of the Continuum laser range and sales in Defense/Space. Sales in the Asia-Pacific region continued to be impacted by uncertainty over the impact of tariffs on products manufactured in the US.
The Medical division continues to be driven mainly by the performance of its direct activities in Japan, Australia and the United States.
Outlook
The backlog at the end of June is growing strongly, particularly in the Defense/Space and Medtech activities.
In terms of results, Lumibird anticipates a very significant improvement in EBITDA for the first half of the year, both in value and as a percentage, in both divisions.
- For the Photonics division, EBITDA should return to previous levels thanks to growth in business, particularly in the Defense market, but also to the effects of the integration of recent external growth.
- For the Medical division, the expected improvement in profitability is linked to the threshold effects enabled by steady growth in business and the optimization of production margins.
Next information: Half-year results, 23/09/2025 after close of trading
LUMIBIRD is one of the world's leading laser specialists. With over 50 years' experience and expertise in solid-state, diode and fibre laser technologies, the Group designs, manufactures and distributes high-performance laser solutions via two divisions: Photonics and Medical. The Photonics Division designs and produces components, lasers and systems for the defence and space, environment, surveying and security, industrial and scientific, and medtech markets. The Medical branch designs and produces medical diagnostic and treatment systems for ophthalmology.
The result of the October 2017 merger between the Keopsys and Quantel Groups, LUMIBIRD, with more than 1,000 employees and €207.1m in sales in 2024, is present in Europe, America and Asia.
LUMIBIRD shares are listed in compartment B of Euronext Paris. FR0000038242 - LBIRD www.lumibird.com LUMIBIRD has been a member of Euronext Tech Leaders since 2022.
Contacts
LUMIBIRD Marc Le Flohic Chairman and Chief Executive Officer Tel. +33(0) 1 69 29 17 00 [email protected]
LUMIBIRD Isabelle Ibar Chief Financial Officer Tel. +33(0) 1 69 29 17 00 [email protected]
Actus Mathieu Calleux Investor Relations Tel. +33(0) 1 53 65 37 91 [email protected]
