 H1 Revenue €27.1m, +15,8% (+1,5% lfl) o Altix contribution : €3,3m,+7% o International : 97% of revenue, +15,9% o Konica Minolta network : €19m, +8%  Gross margin : stable at 68.3%  Ebitda margin 14.3% vs 18% (19,5% excl. Altix) / Operating margin 2.7% vs 8% (8.9% excl. Altix) / Net margin 9.1% vs 10.9% (13.5% excl. Altix)  Gearing -12.6% vs -16.5% at 31/12/24  2025 target : stable revenue vs 2024 excluding licence income