(BFM Stock Exchange) – The software specialist for professionals and health establishments unveiled a commercial activity up on the first three months of 2025. Its main division, Pharmagest, notably benefited from a resumption of pharmacists’ demand.

Equasens finds a better mine. The IT solutions for health solutions supported the accelerator at the start of the year, after having a fee of its turnover of almost 4% in comparable data last year.

Monday, May 12 after the closing of the market, the group reassured the orientation of its activity. He published a turnover up 6.9% in published data to reach 57 million euros. In comparable data, activity increased by 5.9%.

The group took advantage of an awakening of its main division, Pharmagest which represents 73.7% of the overall turnover. This activity given its turnover increases by 5.5% in data comparable to 42 million euros thanks to a restoration of the confidence of pharmacists. This contributed to a resumption of the request of this audience.

“It is the first quarter since the second of 2023 that this division has made a positive growth in annual shift, because it benefits from an easy comparison base (income had decreased 8.6% in the first quarter 2024) from an improvement in the market and market share gains in France and Italy,” details Stifel.

For the design office, this “solid first quarter should help the company regain part of the lost confidence with investors”. Indeed, grouping it rebounds 11.7% this Tuesday, May 13, the day after the publication of a dynamic commercial activity over the first three months of the year.

The action had indeed fell at lowest in 2017, when the ex-pharmagest had coldly picked investors by revealing degraded 2024 accounts.

Confidence for the second quarter

The company explains that its investment and structuring efforts “bear fruit”, and that they will be maintained throughout 2025.

Regarding its activity, Equasens displays its confidence in its growth in the second quarter, considering it in the same line as the dynamics observed over the first three months of 2025.

Stifel expects the organic growth of Equasens “to gradually accelerate this year, which should help improve the profitability of the company despite the continuation of investments”.

The group also says it is attentive to external growth opportunities, in France as in Europe, to strengthen its positioning as a leader in digital health solutions.

Stifel notes that EquaSens currently treats 9.2 times the gross operating result (EBITDA) expected for 2025, which is significantly lower than its average over ten years, due to a slowdown in turnover growth in the last quarters and a lack of confidence in the management team.

The design office envisages a revaluation at approximately 15 times the EBITDA, and renews its recommendation for purchase and its price of price of 75 euros on Equasens.