Half Year 2024 Vantiva SA Earnings Call Transcript
Key Points
- Vantiva SA (FRA:TNM2) met all plans and expectations for the first half of 2024.
- The integration of Home Networks into Vantiva is ahead of schedule, with significant progress in transition service agreements and ERP system migration.
- Operational free cash flow before interest and tax improved significantly to EUR30 million from minus EUR74 million in the first half of 2023.
- The company maintained its focus on sustainability, receiving a Platinum rating by EcoVadis for the second year in a row.
- Vantiva SA (FRA:TNM2) confirmed its full-year guidance with confidence, anticipating a strong recovery in the second half of the year.
- Revenues decreased by 3.4%, reaching about EUR1 billion, with a notable drop in SCS revenues by 10.6%.
- EBITDA fell from EUR49 million to EUR23 million, impacted by lower volumes and higher structural costs due to the Home Networks integration.
- The connected home division faced a low demand period, with service providers minimizing their spending.
- The DVD business continued its natural decline, although at a slower rate compared to previous years.
- Net result of the group was negative EUR167 million, an improvement from last year but still a significant loss.
Hello, ladies and gentlemen. Welcome to Vantiva's first half 2024 results conference call shared by Luis Martinez-Amago, our CEO; and Lars Ihlen, our CFO. (Operator Instructions) Just to remind you all, this conference is being recorded. We'd like to inform you that this event is also available live on our Vantiva's website with synchronized slide show.
During this conference, statements could be made that constitute forward-looking statements based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from the future results expressed, forecasted or implied by such forward-looking statements. For a more complete list and description of such risks and uncertainties, refer to Vantiva's filing with the French Autorité des marchés financiers. I would like now to hand over the call to Luis. Please go ahead.
Thank
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