Quadient Sa Unsp/Adr

Good evening and welcome to Quadient H1 2023 results presentation. I am Catherine Hubert-Dorel, Quadient's Head of Investor Relations. Today's presentation will be hosted by Geoffrey Godet, Quadient's CEO, and Laurent Dupassage, Quadient's CFO. So you have the agenda on slide three. And as usual, there will be an opportunity to ask questions at the end of the presentation. As a reminder, you can submit your question in writing through the web or ask your question live by dialing into the conference call. Thank you very much. And with that, over to you, Geoffrey.

Thank you, Catherine.

Good evening. I'm pleased to present you a positive set of H1 2023 figures for Quadient. These are setting us on the right track to achieve our full year 2023 guidance. Revenue for the period is a little bit more than half a billion in euro, right? It came in at 522 million euro, which is up 2% organically versus last year. Importantly, our subscription business model continues to deliver faster organic growth with a 4.2% increase in subscription-related revenue, which now represent more than 71% of the total revenue of Quadient. At the current EBIT level, organic growth was a solid 8% organic increase, thanks to the significant improvements in the profitability of both our software and lockers business, more than compensating the small EBIT decline in our traditional mail business.