Half Year 2024 Azelis Group NV Earnings Call Transcript
Key Points
- Azelis Group NV (AZLGF) achieved a revenue of EUR2.1 billion in H1 2024, a slight improvement compared to H1 2023 on a constant currency basis.
- Gross profit in H1 2024 was EUR526 million, a 3% year-on-year improvement on a constant currency basis.
- Adjusted EBITDA came in at EUR254 million, with an EBITDA margin of 11.8%, stable from Q1.
- The company maintained a strong conversion margin of 48.2%, demonstrating effective cost control.
- Azelis Group NV (AZLGF) closed four acquisitions and announced two further acquisitions in H1 2024, continuing its M&A strategy.
- The market remains challenging with price pressure in some end markets, particularly in EMEA.
- Organic revenue declined by 4.4% in H1 2024, with improving trends in the Americas offset by softness in EMEA and APAC.
- Net profit for H1 2024 was EUR100 million, an 8.3% decrease compared to the prior year.
- Free cash flow decreased by 44.3% compared to the prior year, driven by lower EBITDA and higher investments in working capital.
- The company faces ongoing volatility and limited visibility in the markets, making it difficult to provide a quantitative guidance.
Good morning, everyone, and thank you for dialing in today. Being joined by Anna Bertona, Group CEO; and Thijs Bakker, CFO. Anna will give an overview of the developments in the first half of the year and Thijs will present the financial results. Afterwards, Anna will give some color on the outlook.
As a reminder, this call may contain forward-looking statements that are subject to risks. After the presentation, we will open the line for Q&A. Until then, you will be on listen-only mode. The recording of the call will be made available on our website.
I will now hand you over to Anna.
Good morning, and thank you for joining us today. I would like to start with the key points regarding our results for the first half of '24. And actually, these are similar to the messages I gave during the Q1 earnings call in April. So the results of H1 reinforce what I said then.
First, we continue to hold the line in terms of conversion margin. While the
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
