Half Year 2024 Solutions 30 SE Earnings Call Transcript
Key Points
- Adjusted EBITDA increased by 37.4% year-on-year to EUR37.7 million.
- Free cash flow improved significantly by EUR26.1 million compared to H1 last year.
- Germany showed strong growth with a 25.1% increase in revenue and positive margin contributions.
- Energy segment grew by 28.7%, driven by diversification efforts and renewable energy installations.
- Financial structure remains sound with a 1.3 times net debt-to-EBITDA ratio.
- Net income group share remained negative at minus EUR5.9 million.
- Revenue in France experienced a 6.4% organic decline due to reduced exposure to less profitable telecom contracts.
- Italy and Spain showed significant declines, impacting overall performance.
- Operational costs, while reduced, still accounted for 83.4% of revenue.
- EBITDA margin decreased from 8.8% to 7.3% in H1 2024 due to delays in fiber deployment in Belgium.
Good evening to all, and thank you for being here for the presentation of our first half 2024 results. As always, we will present in English, and we provide a transcript of our on our website shortly after the presentation.
Joining me are Amaury Boilot, our Group General Secretary; and Jonathan Crauwels, our Group CFO. Together, we will walk you through the financial results of the first half of '24. And after the presentation, we will take your questions from the chat.
The half year consolidated financial statements of Solutions 30 were examined by the Supervisory Board today. The group auditors have completed their limited review, and their report is available on our website, solutions30.com.
Let's begin with the highlights of the first half '24. We improved significantly our profitability KPIs in a context where our revenues remained stable at EUR517 million. This is the reflect of the increased focus we are putting on profitability over volumes.
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