2025 first half business

• Revenue up 2.9% to €26.7m
• Positive outlook
Poisy, July 24, 2025 – 8:45am - Baikowski® (ALBKK - ISIN : FR0013384369), a century-old leading
producer of specialty industrial minerals, reports its revenue for the first half of 2025.

2025 first half consolidated revenue came to €26.7 million, up +2.7% from the first half of 2024. On a
like-for-like scope and foreign exchange rates basis, revenue rose by +2.9%.

At June 30 (€m) 2025 2024 Change Change
like-for-like basis
Half year 26.7 26.0 + 2.7 % + 2.9 %

During the first half of the year, Baikowski recorded solid demand across its main market segments.

In the electronics sector, sales for the CMP (chemical mechanical polishing) application remained at a
level comparable to the previous year, despite a high basis of comparison linked to the strong rebound
in the semiconductor market in 2024. Alumina sales for technical ceramics dedicated to electronics
continued to ramp up, delivering strong commercial performances throughout the period.

Sales for the automotive market remained stable, despite a slowdown in the commercial development
of new-generation batteries.

The positive momentum seen at the end of 2024 in dental applications was confirmed, helping to drive
growth across the medical market as a whole during the first half of 2025.

This momentum has been accompanied by continued diversification into new industrial applications,
including additives, technical ceramics, polishing, and others.

This diversification is supported by Baikowski’s ongoing research and development efforts to strengthen
its position in high-potential, innovation-driven markets. A concrete example of this strategy is the
innovative project to decarbonize alumina production, developed in partnership with ECM Technologies,
Saint-Gobain, and ICGM, and recognized in 2024 as part of the France 2030 plan. The project is
progressing according to schedule, with entry into the industrial qualification phase expected during
fiscal year 2026.

In the first half of 2025, the geographical breakdown of revenue was as follows: Asia and the rest of the
world (excluding Europe and the Americas) contributed 53% of the total (versus 56% in the first half of
2024), the Americas 29% (versus 29%), the rest of Europe 14% (versus 11%), and France 4% (versus 4%).




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Outlook

Baikowski is firmly positioned in long-cycle markets and continues to develop through strategic projects,
particularly in support of the energy transition. In the short term, the main market trends remain
positive.

Next date

2025 half-year results and 2025 half-year report publication on September 29, 2025, before the start of
trading.



About Baikowski®
Founded in 1904, Baikowski is a world leader for the production of specialty industrial minerals, including ultra-pure alumina,
as well as other oxides such as spinel, luminophores, zirconia and cerium oxide. These products are used in the composition of
technical ceramics, precision polishing and additives. The quality of Baikowski products enables it to address a wide range of
high-tech markets, from electronics to automotive, green energy, aerospace, defense, medical and watchmaking.

Baikowski has been committed to a responsible resource management policy for many years and is actively involved in
developing tomorrow’s sustainable technologies. Baikowski is present on three continents (France, USA and Japan) and has
commercial offices and agents in South Korea and China.

Baikowski is listed on Euronext Growth Paris (ISIN: FR0013384369 – Ticker: ALBKK).




For more information, visit www.baikowski.com.



Contacts
• Media Relations: Benoît Grenot - Chief Executive Officer - +33 (0)4 50 22 69 02 - finance@baikowski.com
• Investor Relations: Jean-Christophe Le Floch - Chief Financial Officer - +33 (0)4 50 22 69 02 -finance@baikowski.com
• Financial Communication: ACTUS FINANCE & COMMUNICATION - Cyril Combe - +33 (0)1 53 65 36 36 –
baikowski@actus.fr




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