B&C Speakers (BEC) Q4 2024 earnings summary

Executive summary

• Achieved record consolidated revenue of €100.4 million in 2024, up 6.8% year-over-year, surpassing €100 million for the first time.

• Group net profit rose 27.2% to €17.8 million, with a margin of 17.7% of revenue.

• EBITDA remained stable at €21.8 million, with a margin of 21.7%.

• Growth driven by new subsidiaries, offsetting a slight decline in legacy business, especially in Asia.

• Proposed dividend of €1.00 per share, up 42% from the prior year.

Financial highlights

• Revenue increased to €100.4 million from €94 million in 2023 (+6.8%).

• EBITDA stable at €21.8 million; EBITDA margin declined to 21.7% from 23.2%.

• EBIT decreased 2.5% to €19 million; EBIT margin at 19%.

• Net profit up 27.2% to €17.8 million, aided by a €4.2 million tax benefit from the Patent Box ruling.

• Net financial position negative at €0.9 million, impacted by investments and working capital.

Outlook and guidance

• Early 2025 sales volumes are up compared to 2024, with a confident market climate.

• New product launches planned for US car audio aftermarket and Portable-Mi segment in China.