PRESS RELEASE


Q3 2025 revenue: €19.7m (+13%)

Solid growth in the first 9 months of the year (+15.1%)
Full-year 2025 targets confirmed


Mortagne-sur-Sèvre, France, 15 October 2025, COGELEC (ISIN: FR0013335742/Ticker: ALLEC),
the French leader in access control systems for building complexes, is publishing its revenue for
third-quarter 2025 and the first nine months of the 2025 financial year.


Revenue
2025 2024 Change
In €m
Q1 22.1 18.5 +19.6%
Q2 20.4 18.2 +12.6%
Q3 19.7 17.4 +13.0%
First 9 months 62.3 54.1 +15.1%


Solid business activity and growth in recurring revenue

Consolidated revenue for Q3 2025 came to €19.7 million, an increase of +13.0% compared with Q3
2024. The Intratone brand marketed in France and Europe continued to benefit from its unique
positioning in GSM intercom systems and maintained solid growth momentum.
The Group made consolidated revenue of €62.3 million in the first nine months of the year, up
+15.1% on the same period in 2024.
With a steady increase in the installed base, subscriptions rose by +17.2% in Q3 2025 to €6.9 million
and totalled €20.2 million in the first nine months (€17.3 million in 2024). Subscription-based
recurring revenue accounted for 32.4% of total Group revenue at the end of Q3 2025.
In France, revenue rose by +15.2% to €17.0 million in Q3 vs. €14.8 million a year earlier. Revenue
for the first nine months rose by +16.3% to €53.7 million vs. €46.2 million in 2024.
In Europe (excluding France), business activity grew by a slight +0.8% in Q3 to €2.7 million (€2.7
million in 2024). Over the first nine months, sales in Europe rose by +8.1% to €8.6 million vs. €7.9
million a year earlier. During the period, the discontinuation of 2G gave rise to a certain wait-and-
see approach by partner installers in Europe, with orders being delayed until the end of the year

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and early 2026. Meanwhile, a new range of products for the European market should help to boost
sales and win new market share from the beginning of 2026.


Objectives for 2025
Given continued solid growth and the recent commercial alliances with Amazon Key and Fichet
Group that will support sales in the coming months, COGELEC confirms its target for 2025 of a
higher rate of growth in revenue and in the EBITDA ratio than in the 2024 financial year.

Contacts:

COGELEC Seitosei ● Actifin Seitosei ● Actifin
Véronique Pochet Ghislaine Gasparetto Jennifer Jullia
Chief Financial Officer Financial Communication Financial Press Relations
+33 (0)2 72 67 00 91 +33 (0)6 85 36 76 81 presse@seitosei-actifin.com
investors@cogelec.fr ghislaine.gasparetto@seitosei-
actifin.com




About COGELEC
COGELEC is the French leader in access control systems for building complexes. In 2007, COGELEC
created the first global wireless interphone solution, marketed as part of a subscription offer,
under the Intratone brand.
Based on an indirect distribution model, combined with very close-knit relations with social
landlords and building complex management associations, COGELEC now operates in six countries
in Europe and the Intratone brand has more than 2.6 million dwellings subscribed.
COGELEC is listed on the Euronext Growth Paris, and is part of the Growth AllShare, Tech
Croissance and PEA-PME 150 indices.
For more information, see www.cogelec.fr




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