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Exclusive Networks (EXN) investor relations material
Exclusive Networks Q3 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Gross sales reached €1,334 million in Q3 2024, up 9% year-over-year at both reported and constant currency, driven by strong APAC (+71%) and Americas (+11%) performance.
Year-to-date gross sales grew 9% reported and 10% at constant currency, with M&A, especially the Nextgen Group integration, fueling APAC growth.
Retention rates remained robust, with net vendor retention at 105% and net customer retention at 104% on a rolling 12-month basis.
Financial highlights
IFRS revenue for Q3 2024 was €415 million, up 10% year-over-year, mirroring gross sales growth.
For the first nine months of 2024, gross sales totaled €3,898 million (+9% reported, +10% constant currency), while IFRS revenue was €1,139 million (-1% reported, -1% constant currency).
Cloud-based business accounted for 34% of group sales on a rolling 12-month basis, up 6 points from Q3 2023.
Outlook and guidance
FY 2024 guidance reaffirmed: gross sales growth of 10–12% at constant currency, net margin €500–515 million, adjusted EBIT €200–210 million, and adjusted operating FCF above 80% of adjusted EBITDA.
Management expects a strong Q4, supported by double-digit booking growth in Q2 and Q3.
- TimeTickerHeadlineOpen
- 6 FebWASH
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Net loss widened to 7.5m PLN in H1 2024 as revenue fell and R&D costs remained high.
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