Videoconference | October 30, 2025
Speakers
Pascal Imbert CEO
Karsten Höppner Deputy CEO
Laurent Stoupy CFO
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Stable revenue for H1 2025/2C at €458.1mRevenue in €m unaudited data | 2025/26 consolidated | 2024/25 consolidated | Total change | Change at constant scope and forex basis1 |
Q1 | 231.5 | 232.4 | 0% | -1% |
Q2 | 226.4 | 225.4 | 0% | 0% |
H1 | 458.1 | 457.8 | 0% | 0% |
Revenue up +0.4% in Q2 2025/26
almost stable revenue year-over-year on a constant scope and forex basis(-0.3%)
unfavorable working day impact of -1.1%
Revenue stable in H1 2025/26
decreased revenue year-over-year on a constant scope and forex basis (-0.5%)
unfavorable working day impact of -0.9%
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1 excluding Wivoo, consolidated since June 1, 2025
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Consultant utilization rate under pressure at 71%; solid average daily rate of €G3G
H1 2025/26
Consultant utilization rate
Average daily rate
Order book
Turn-over
(6 months)
71% |
€G3G |
3.6 months |
13% |
6,042 |
FY 2024/25
(12 months)
73% |
€G3G |
4.2 months |
12% |
6,076 |
consultant utilization rate under pressure in H1 2025/26
solid daily rates despite Wivoo's lower prices
+1% increase on a constant scope and forex basis
vs. 3.7 months on September 30, 2024
on a rolling 12-month basis
Headcount
including 98 coming from the acquisition of Wivoo
slight decline during the summer, reflecting the usual seasonality
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A challenging market environment over H1 2025/2CUnfavorable economic environment
reluctance of decision-makers to move forward with their investment plans
in the context of high geopolitical uncertainty
Sectoral trends
banking, retail and automative remain difficult
transport has been slowing down in H1
luxury business momentum has seen recent improvement
insurance remains resilient, while energy and life sciences continue to show a positive trend
Demand building for AI consulting
first large-scale deployments have started with some major clients
intensified business development efforts in this area to position Wavestone as a key player in the field of AI-driven transformations
Sustained momentum in cybersecurity, cloud and SAP
Same challenging market conditions across all regions
except North America, where demand continues to be strong
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Outlook on H2 2025/2C
Improvement of business demand in Q3 2025/26
significant utilization rate improvement in Q3
however, visibility remains limited, and it is too early to assess continuation of this positive trend in Q4
Keeping a moderate recruitment pace
leading to a very limited increase of headcount over the fiscal year
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2024/25
G43.7 M€
12.C%
2025/2C
objectives
Positive organic growth
Around 13%*
Annual targets for 2025/2CRevenue
Recurring operating margin
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2025/2c objectives expressed on a constant forex basis, excluding Wivoo and any new acquisitions
* instead of more than 13%
initially targeted
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H1 2025/2C revenue QUESTIONS G ANSWERS
MICROSOFT TEAMS
Unmute your microphone | Use 'Raise hand' button
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Financial agenda
2025/26
Q3 revenue
(after stock market closing)
Dec 2,
2025
Feb 2,
202C
Apr 30,
202C
2025/26
H1 results
(after stock market closing)
2025/26
Annual revenue
(after stock market closing)
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Disclaimer
Wavestone SA published this content on October 30, 2025, and is solely responsible for the information contained herein. Distributed via Public Technologies (PUBT), unedited and unaltered, on October 30, 2025 at 18:04 UTC.
