RS2 plc - Interim Results

On 27 August 2025, RS2 plc published its interim financial statements for the six-month period ended 30 June 2025.

Revenues dropped by 7.9% to €17.6 million (H1 2024: €19.1 million) as the growth achieved by the Merchant Solutions business (+36% to €2.25 million) was offset by the drop in income from Software (Licensing) Solutions (-5.5% to €5.1 million) and the Processing Solutions arm (-15% to €10.2 million).

Operating costs (net of other income) increased by 4.3% to €20.0 million as the higher cost of sales and foreign exchange losses outweighed the lower administrative and marketing expenses. As a result, RS2 registered an operating loss of €2.40 million compared to a loss of €0.08 million in H1 2024. Excluding depreciation and amortisation charges, RS2 registered a negative EBITDA of €0.94 million in contrast to an EBITDA of €1.30 million in the first half of 2024.

Net finance costs decreased by 33% to €0.14 million.

RS2 recorded a pre-tax loss of €2.55 million compared to the loss of €0.29 million in the same period last year. After accounting for minimal tax charges and losses attributable to non-controlling interests of €0.07 million, the net loss for the period attributable to shareholders amounted to €2.56 million compared to the loss of €1.01 million in the first half of 2024.

The Statement of Financial Position as at 30 June 2025, when compared to the corresponding figures as at 31 December 2024, shows that total assets remained virtually unchanged at just under €50 million. Total liabilities increased by 11% (or €2.8 million) to €28.2 million as total debt climbed to €10 million. Shareholders’ funds dropped by 8.7% (or €2.2 million) to €23.7 million.

Outlook

The Directors explained that reduction in revenue for the first half of the year is primarily attributable to the timing of contract signings, including the suspension of the US acquirer project as announced in mid-2024. These contracts are expected to materialise in the second half of the year, positioning the Group to deliver revenues above last year on a full-year basis. Furthermore, the Group remains focused on cost effectiveness in its operations coupled with the benefits of economies of scale, particularly in the Managed Services Solutions and Merchant Solutions. The Board anticipates that this will result in significantly improved profitability when taking into consideration the approved budgets covering periods 2025 to 2027.