Euronext B – ISIN: FR0000071797
Reuters: ETOF.PA – Bloomberg: INF FP

Press release
Paris, March 18, 2026

2025 full-year results

Excellent current operating margin¹ at 9.2% of revenue
Restated net margin²
rose to 7.1% of revenue
Proposal to maintain a dividend of €2 per share

Launch of a new Infotel 2030 strategic plan
Revenue target of €500 million by 2030

Infotel (ISIN: FR0000071797 - ticker: INF), the leading digital transformation partner for key accounts in Europe, today announced the publication of its financial statements for fiscal year 2025, as approved by the Board of Directors at its meeting of March 18, 2026, and which are currently being audited by the Statutory Auditors.

In € million at December 31

(Accounts currently under audit, IFRS)

Services remained stable while Software continued to grow

Infotel posted revenue of €294.0 million, down by a slight -0.3%, with the Services activity remaining almost stable (-0.6%) and the Software activity up +7.5%.

In the Services business, there was confirmation of the rebound in the Banking/Finance sector with the ramp up of activity with BPCE, which has become the Group’s biggest customer, ahead of Airbus. This sector now accounts for 42.1% of Services revenue compared with 39.2% a year ago.

The Industry sector contributed 22.8% of revenue compared with 26.3% the previous year. Revenue from Airbus and Stellantis stabilized, with new projects being studied for 2026.

The Services/Transport sector made a stable contribution at 19.5% of revenue, compared with 19.1%, with development opportunities identified at Air France and Enedis in particular.

The Insurance/Retirement and Administration activities also remained stable at 11.7% and 4.0% respectively of total revenue.

In 2025, Infotel made 377 gross recruitments, bringing its workforce to 3,232 at the end of December. The intercontract rate at the year-end remained low at 3.3%.

The Software activity rose by +7.5% over the year with revenue reaching €14.3million. IBM royalties contributed €5.8 million in 2025.

Meanwhile, Orlando, the software suite for aircraft technical documentation, saw continued strong growth with revenue of €5 million compared with €4 million in 2024, representing growth of +25% over the year. Orlando currently has more than 64 airline customers and the potential for further growth is significant.

A high level of operating profitability maintained

Driven by a dynamic recovery in the Services business at the end of the year, the Group was able to maintain a high level of operating profitability for the full fiscal year.

Current operating income (excluding free shares) for 2025 came to €26.4 million, reflecting the solidity of the business model and an excellent current operating margin of 9.2%.

After taking into account net financial income and the tax expense, net income Group share amounted to €16.2 million for 2025. By restating net financial income of €4.7 million, corresponding to the commitment made in 2022 to purchase W@Btech India Limited and realized in 2025, net income would have reached €20.9 million vs. €18.5 million a year earlier, which would represent a net margin of 7.1% over the period.

A sound balance sheet structure

At December 31, 2025, Infotel had a robust financial position, with shareholders’ equity of €123.1 million compared with €123.8 million a year earlier, and no financial debt.

Net cash at the end of 2025 stood at €109.6 million, compared with €109.9 million at the end of 2024.

Proposed dividend of €2 per share

Infotel’s Board of Directors will propose the payment of a dividend of €2 per share for fiscal year 2025 at the General Shareholders’ Meeting on May 27, 2026. This recurrent distribution policy reflects management’s confidence in the Group’s outlook.

Launch of the new Infotel 2030 strategic plan

2026 marks the start of a new strategic plan for 2030 aimed at accelerating Infotel’s development in France and internationally, while strengthening its positions in its key markets.

Firstly, Infotel aims to consolidate its position as a leader in the management of critical information systems for key accounts, by drawing on more than 40 years of expertise, its mastery of complex environments and its end-to-end positioning, from definition of need through to operation.

Infotel also intends to be a leader in the industrialization of AI within an ethical and responsible framework. With this in mind, the Group is looking to leverage artificial intelligence to scale effectively, serving customer transformations, opening up new growth drivers and speeding up its internal transformation. In this context, Infotel has developed the Infotel Augmented Solutions marketplace to make its AI agents available (backdocumentation of applications, transcoding, test automation, etc.).

The Group will also continue to expand its international footprint, in order to support the internationalization of its customers, strengthen its position in high-potential markets and diversify its growth drivers.

In addition, Infotel aims to enrich its software range by drawing on its technological assets and strategic partnerships and, in particular, by creating an integrated aeronautical software suite around Orlando and AeroEx, and deploying a complete electronic document management offering through the integration of recently acquired Sesin.

This roadmap will be implemented alongside an ambitious human resources policy, aimed at increasing the Group’s attractiveness and making its employer brand a sustainable driver of performance.

Bolstered by this new strategic plan, Infotel is targeting revenue of €500 million by 2030, with a current operating margin of around 10%.

To achieve this, the Group intends to combine organic growth with targeted acquisitions, in France and abroad, focusing on companies that complement its offering on a geographical, technological or sectoral level, and that meet its critical mass and profitability criteria.

Upcoming events

Publication of Q1 2026 revenue: May 13, 2026 after market close
General Shareholders' Meeting: May 27, 2026 at 2.30 p.m.

About Infotel

Infotel specializes in digital transformation for major accounts.
The Group aims to become a leader in the industrialization of AI within an ethical and responsible framework, while guaranteeing technological sovereignty and infrastructure security.

By supporting its customers with their international development, Infotel can expand its presence across several continents.

The Group also has a diversified software offering in database management, archiving and aeronautical technical documentation.

Contacts

INFOTEL
Michel Koutchouk
Chief Executive Officer
Tel.: +33 (0)1 48 97 38 38
michel.koutchouk@infotel.com

SEITOSEI.ACTIFIN
Ghislaine Gasparetto
Financial communication
Tel.: +33 (0)6 85 36 76 81
ghislaine.gasparetto@seitosei-actifin.com

SEITOSEI.ACTIFIN
Jennifer Jullia
Financial press relations
Tel. +33 (0)6 02 08 45 49
jennifer.jullia@seitosei-actifin.com

Notes

1. Excluding free shares.
2. Restatement of the financial result of €4.7 million, corresponding to the purchase commitment in 2022 of W@Btech India Limited carried out in 2025.
3. EBITDA is calculated as follows: Current operating income + depreciation, amortization and provisions – provisions for current assets + provisions for disputes + amortization of research tax credit + retirement provisions.