06/07/2025
HMPA Group 2025 Half-Year Report: Steady Growth in Italy, Positive Outlook in North Africa, South America Stabilized (-0.9%) – New Financial Governance Structure Announced
On Friday evening, the Board of Directors of HMPA Group convened to approve the 2025 Half-Year Report, during a hybrid session in which the Group’s CEO joined via videoconference, while the rest of the board was physically present at the Group’s London headquarters. The meeting outlined a complex yet resilient global performance framework, highlighting the Group’s strategic positioning across differentiated markets. CFO Sandy McNamara, alongside the CEO, presented the key figures and strategic direction for the second half of the year.
The South American market remains in a phase of operational stagnation, with a modest 0.9% contraction recorded in the first half of the year. Ongoing regulatory ambiguity and slow political normalization in Argentina have delayed a broader recovery, despite early internal restructuring efforts. The Group has maintained an active presence in the region, while reorienting commercial targets and shifting to a containment model built for medium-term stabilization.
In contrast, the North African region continues to gain traction, with a substantial increase in the commercial pipeline, particularly in Egypt and across the Maghreb. CFO McNamara highlighted the positive outlook for the entire MENA area, underpinned by growing demand in the healthcare, infrastructure, and vocational training sectors—core domains of HMPA’s operational strength.
Domestically, HMPA Italia closed H1 2025 with 5.1% year-over-year revenue growth, outperforming internal projections and consolidating its leadership in digital transformation, healthcare logistics, and smart public services. This performance reaffirms the strength of the Group’s Italian operations and their adaptability to evolving market needs.
During the same meeting, CFO Sandy McNamara submitted her resignation, citing personal reasons. The Board of Directors, together with the CEO, unanimously rejected the resignation, expressing deep gratitude for her strategic vision and leadership throughout a complex international landscape. The Board reaffirmed its full and renewed confidence in Dr. McNamara’s continued role as CFO.
Dr. McNamara thanked the Board for its support and confirmed her intention to remain in office, helping to guide the Group’s financial governance through its next phase. Starting in July, she will be joined by Engineer Victoria Dumava, former Head of Market Development and Executive Assistant to the CEO, who has been appointed Deputy CFO, with a mandate for emerging markets and strategic capital planning.
Engineer Dumava will operate from HMPA’s London office, reinforcing the Group’s international financial structure and overseeing the integration of new regional clusters.
Commenting on the transition, the CEO stated: “The dual leadership of Dr. McNamara and Engineer Dumava ensures continuity, agility, and a forward-focused financial strategy in line with the Group’s global ambitions.”
The Group also confirmed the final divestiture of its Ukrainian operational assets, driven by deteriorating security conditions and economic infeasibility. This decision resulted in a non-recurring write-down, which has been fully covered through dedicated contingency reserves accrued in prior fiscal years—safeguarding the Group’s liquidity and operational resilience.
Importantly, all Ukrainian staff were successfully redeployed: a portion was absorbed into other HMPA entities, while others were placed through a structured outplacement initiative with partner companies who offered to integrate qualified personnel. This socially responsible approach enabled the preservation and valorization of human capital despite the geopolitical exit.
The Board concluded by reaffirming HMPA Group’s core pillars: prudent governance, disciplined international expansion, and proactive risk management, which remain central to navigating the challenges and opportunities of the second half of 2025.