Half Year 2024 Quadient SA Earnings Call Transcript
Key Points
- Quadient SA (NPACF) reported a revenue of EUR 534 million for H1 2024, up 3.2% in reported figures.
- The company's subscription business model now represents 72% of total revenue, amounting to EUR 384 million in H1 alone.
- Quadient SA (NPACF) has maintained its AA ranking with MSCI, reflecting its strong ESG commitments.
- The digital automation platform saw a significant improvement in profitability, with an EBITDA margin increase of 6.4 points, reaching 15.7%.
- The company announced a EUR 30 million share buyback program, demonstrating confidence in its strategic plan and shareholder value creation.
- Mail Solutions EBITDA declined, impacting overall profitability despite the growth in digital automation.
- The parcel lockers segment reported a 2.5% organic revenue decline and a negative EBITDA margin of -6.7%.
- The change in commercial agreement with Yamato in Japan negatively impacted locker subscription-related revenue.
- The cost of debt increased to EUR 20 million due to rising interest rates, affecting net attributable income.
- The company faced delays in the implementation of two large US digital contracts, impacting revenue growth in the digital segment.
Good evening, and welcome to Quadient H1 2024 results presentation. I am Catherine Hubertdorel, Quadient's Head of Investor Relations. And today's presentation will be hosted by Geoffrey Godet, Quadient's CEO; and Laurent du Passage, Quadient's CFO.
The agenda for the call for today is on slide 3. We will cover the usual highlights, key financials, business review and financial for the group as well as the 2024 outlook. As usual, you will have an opportunity to ask questions at the end of the presentation, either in writing through the web or by dialing into the conference call. And with that, over to Geoffrey.
Thank you, Catherine, and good evening. To begin with, I would like to come back on the main event of these past six months, our last Capital Market Day in June. As many of you will remember, in June, we presented our new strategic plan Elevate to 2030.
This strategy stems from the recent refocus of the Group
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