DJ 2CRSi SA: 2CRSi continues its profitable growth trajectory
2CRSi SA
2CRSi SA: 2CRSi continues its profitable growth trajectory
30-Oct-2025 / 19:32 CET/CEST
Dissemination of a French Regulatory News, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
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2CRSi continues its profitable growth trajectory
Revenue up 32% to EUR220.7 million
Net profit: EUR2.1 million (Group share)
Strasbourg (France), October 30, 2025 - 2CRSi (ISIN: FR0013341781), 2CRSi Group, a leading French designer and
manufacturer of high-performance servers for Artificial Intelligence applications, today announced its annual results
for fiscal year 2024/2025.
2CRSi Group: Another Year of Growth and Sustained Profitability
With consolidated revenue of EUR220.7 million, up +32% compared with the 2023/24 pro forma figure (EUR167.6 million over 12
months), and in a market that remains both dynamic and demanding, 2CRSi delivered strong growth and confirmed its
operational robustness. This performance highlights the strengthening of the Group's commercial positions across its
key markets: Artificial Intelligence, High-Performance Computing (HPC), and Data Centers.
The gross margin for the fiscal year, and particularly for the second half, was temporarily impacted by the granting of
an exceptional discount to one of the Group's main clients in the United States, as compensation for a delivery delay.
EBITDA amounted to EUR5.6 million, confirming the Group's ability to maintain solid profitability amid sustained
expansion.
Operating income came in at EUR1.6 million, reflecting effective control over external expenses and strict management of
personnel costs (-15% year-on-year). It should be noted that the previous fiscal year (ended June 30, 2024) benefited
from reversals of provisions, mainly on inventories, totaling EUR2.9 million, whereas provisions on current assets
amounting to EUR1 million were recorded in the prior year. This represents an unfavourable variance of EUR3.9 million for
the 2024-2025 fiscal year.
Positive Net Income for the Second Consecutive Year
The Group's net income amounts to EUR2.1 million, a sharp increase compared to the EUR6.5 million loss recorded over the
2023/24 fiscal year (16 months), and a slight decrease compared to the EUR2.5 million reported on a 12-month pro forma
basis for the same year. It nevertheless remains solidly positive, confirming the return to sustainable profitability
that began last year.
This performance reflects the ongoing transformation of the 2CRSi Group, which continues to evolve its business model
toward a more integrated, service-oriented offering, generating higher value-added and recurring, higher-margin
revenues.
Amounts in millions of Consolidated accounts 2023/ Pro forma consolidated accounts Consolidated accounts 2024/
euros 24[1] 2023/24 2025
French GAAP (16 months) (12 months)[2] (12 months)3
Revenue 178,9 167,6 220,7
Other Operating Income 1,5 3,1 3,6
Total Operating Income 180,4 170,6 224,3
Consumed Purchases (156,0) (149,1) (202,5)
Personnel Expenses (12,5) (9,1) (7,7)
Taxes and duties (0,4) (0,3) (0,2)
Other Operating Costs (0,5) (0,4) (1,0)
External Costs (8,4) (5,2) (7,4)
Total Operating Costs (182,0) (164,2) (222,8)
EBITDA 2,5 6,4 5,6
Depreciation expense (4,1) (2,1) (4,0)
Operating profit (1,5) 4,3 1,6
Financial income and (2,3) (1,9) (0.2)
expenses
Financial result (2,3) (1,9) (1,7)
Exceptional income and (2,9) 0,03 1.4
expenses
Income tax 0,02 (0,2) (0,6)
Net profit
(6,5) 2,4 2,1
(Group share)
A Solid Financial Position
The 32% revenue growth demonstrates 2CRSi's ability to strengthen and structure its commercial relationships, notably through its status as an NVIDIA Elite Partner. This recognition enables the Group to deliver swiftly to its clients while optimising its operating cycle, with transactions carried out without impacting on working capital requirements.
As of June 30, 2025, cash flow stood at a negative EUR0.2 million, mainly due to trade receivables still pending collection at the fiscal year-end. This situation has since normalised, and as of October 20, 2025, cash on hand amounted to approximately EUR8.2 million, supplemented by EUR4.8 million in available credit lines.
Total debt (including bank facilities) amounted to EUR13 million, comprising EUR5.3 million in bank borrowings (of which EUR4.7 million are state-guaranteed loans). The portion due within the next 12 months of the new fiscal year totals EUR5 million, including EUR3.6 million in loan repayments and EUR1.4 million under lease financing.
Outlook: All Indicators Point to Continued Growth and Stronger Results
The solid order book and recent commercial successes give 2CRSi full confidence in its ability to exceed the EUR300 million revenue target set out in the strategic plan unveiled in 2024.
For the current fiscal year, the continued optimisation of costs and the expansion of the "2CRSi Cloud Solutions" business will be the key drivers of significantly improved profitability. Following a highly dynamic first half, the second half of the year will enable 2CRSi to confirm its EBITDA target of EUR36 million for fiscal year 2025/26.
In the longer term, 2CRSi aims to maintain a strong growth trajectory, driven in particular by:
-- Strategic cooperation with leading industry players seeking to partner with 2CRSi to create greater shared value; -- The development of products and services designed to build Artificial Intelligence factories that are more water-,
energy-, and carbon-efficient; and -- The strengthening of R&D activities, enabling the Group to support technological sovereignty for Europe and its
allies, in the fields of Artificial Intelligence and robotics, for industrial and defense applications, both on
Earth and in space.
Download the full 2025 Annual Financial Report here.
About 2CRSi
Founded in Strasbourg, the 2CRSi Group designs, manufactures, and markets high-performance, custom-made, and eco-responsible servers. The Group now offers its innovative computing, storage, and networking solutions in more than 50 countries worldwide.
2CRSi has been listed on the regulated Euronext market in Paris since June 2018 (ISIN Code: FR0013341781) and its shares were transferred to Euronext Growth in November 2022.
For more information: 2crsi.com
Contacts 2CRSi
2CRSi Seitosei.Actifin
Seitosei.Actifin
Jean-Philippe Foucauld Charavay
LLOBERA
Michael Scholze
Financial Communication
Director France
Financial Press Relations
michael.scholze@seitosei-actifin.com
foucauld.charavay@seitosei-actifin.comFoucauld.charavay@seitosei-actifin.com
investors@2crsi.com
01 56 88 11 14
01 80 18 26 33
03 68 41 10 70
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[1] Restated figures following the sale of Boston Limited
[2] As a reminder, and in order to ensure comparability of financial statements, 2CRSi has restated its figures to reflect the specific circumstances of the fiscal year ended June 30, 2024 - namely, the disposal of the Boston Group, an exceptional 16-month reporting period, and a change in accounting standards from IFRS to French GAAP (ANC). To allow for meaningful comparison with the 2024-2025 financial year, the 2023-2024 consolidated financial statements are also presented on a 12-month basis, covering the period from July 1, 2023, to June 30, 2024.
3 The audited financial statements were approved by the Board of Directors on October 30, 2025.
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