Vantiva SA reported Q1 2025 revenue of EUR 430.5 million, marking a YoY increase of about 7.9% with flat QoQ performance. The quarter delivered positive operating leverage: operating income of EUR 12.0 million and EBITDA of EUR 31.0 million translate to operating and EBITDA margins of approximately 2.8% and 7.2%, respectively. However, the company posted a net loss of EUR 147.5 million driven by significant non-operating charges, including a negative total other income/expenses line of EUR 46.0 million and a material income tax outcome, resulting in a negative net income margin of roughly 34.3% for the quarter. Earnings per share were negative at EUR -0.0826 (EUR -0.0850 diluted). These dynamics imply the business remains on a path of revenue growth but is contending with substantial non-operational headwinds that obscure near-term profitability.