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Cogelec SA
Earnings Release • Oct 15, 2025
1211_10-q_2025-10-15_36890a24-a0fb-4a37-86b3-2191f3fbf3fa.pdf
Earnings Release
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PRESS RELEASE
Q3 2025 revenue: €19.7m (+13%)
Solid growth in the first 9 months of the year (+15.1%) Full-year 2025 targets confirmed
Mortagne-sur-Sèvre, France, 15 October 2025, COGELEC (ISIN: FR0013335742/Ticker: ALLEC), the French leader in access control systems for building complexes, is publishing its revenue for third-quarter 2025 and the first nine months of the 2025 financial year.
| Revenue In €m |
2025 | 2024 | Change |
|---|---|---|---|
| Q1 | 22.1 | 18.5 | +19.6% |
| Q2 | 20.4 | 18.2 | +12.6% |
| Q3 | 19.7 | 17.4 | +13.0% |
| First 9 months | 62.3 | 54.1 | +15.1% |
Solid business activity and growth in recurring revenue
Consolidated revenue for Q3 2025 came to €19.7 million, an increase of +13.0% compared with Q3 2024. The Intratone brand marketed in France and Europe continued to benefit from its unique positioning in GSM intercom systems and maintained solid growth momentum.
The Group made consolidated revenue of €62.3 million in the first nine months of the year, up +15.1% on the same period in 2024.
With a steady increase in the installed base, subscriptions rose by +17.2% in Q3 2025 to €6.9 million and totalled €20.2 million in the first nine months (€17.3 million in 2024). Subscription-based recurring revenue accounted for 32.4% of total Group revenue at the end of Q3 2025.
In France, revenue rose by +15.2% to €17.0 million in Q3 vs. €14.8 million a year earlier. Revenue for the first nine months rose by +16.3% to €53.7 million vs. €46.2 million in 2024.
In Europe (excluding France), business activity grew by a slight +0.8% in Q3 to €2.7 million (€2.7 million in 2024). Over the first nine months, sales in Europe rose by +8.1% to €8.6 million vs. €7.9 million a year earlier. During the period, the discontinuation of 2G gave rise to a certain wait-andsee approach by partner installers in Europe, with orders being delayed until the end of the year
and early 2026. Meanwhile, a new range of products for the European market should help to boost sales and win new market share from the beginning of 2026.
Objectives for 2025
Given continued solid growth and the recent commercial alliances with Amazon Key and Fichet Group that will support sales in the coming months, COGELEC confirms its target for 2025 of a higher rate of growth in revenue and in the EBITDA ratio than in the 2024 financial year.
Contacts:
COGELEC Véronique Pochet Chief Financial Officer +33 (0)2 72 67 00 91 [email protected]
Seitosei ● Actifin Ghislaine Gasparetto Financial Communication +33 (0)6 85 36 76 81 ghislaine.gasparetto@seitoseiactifin.com
Seitosei ● Actifin Jennifer Jullia Financial Press Relations [email protected]
About COGELEC
COGELEC is the French leader in access control systems for building complexes. In 2007, COGELEC created the first global wireless interphone solution, marketed as part of a subscription offer, under the Intratone brand.
Based on an indirect distribution model, combined with very close-knit relations with social landlords and building complex management associations, COGELEC now operates in six countries in Europe and the Intratone brand has more than 2.6 million dwellings subscribed.
COGELEC is listed on the Euronext Growth Paris, and is part of the Growth AllShare, Tech Croissance and PEA-PME 150 indices.
For more information, see www.cogelec.fr