Cliq Digital AG Q2 2025 Earnings Recap

Cliq Group faced significant operational challenges due to new regulatory standards in the digital payments sector, leading to a withdrawal of its 2025 financial outlook. Despite these hurdles, the company improved its EBITDA margin through cost control measures.

Key Takeaways

• Total group sales declined to EUR 98 million in H1 2025, down from EUR 141 million in H1 2024, reflecting the impact of external pressures.
• EBITDA increased by over 30% to EUR 6.5 million, resulting in an improved margin of 7%, up from 3% year-over-year.
• Customer acquisition costs were halved to EUR 27 million, although the customer base decreased to 600,000, indicating a focus on efficiency.
• Second quarter sales dipped by only 4% quarter-on-quarter, with adjusted sales showing growth of 3% when excluding currency fluctuations.
• Management has opted to forgo a public partial share repurchase to preserve liquidity amid current uncertainties.