BIO-UV Group (ALTUV) H1 2024 earnings summary

Executive summary

• Revenue for H1 2024 was €22.1 million, down 8% year-over-year but up 16% sequentially from H2 2023.

• EBITDA margin reached 17.1% (€3.8 million), the highest in two years, reflecting operational efficiency and cost control.

• Net income was €0.4 million, impacted by a one-time exceptional charge; adjusted net income would have exceeded €1.0 million.

• Free cash flow hit a record €3.2 million in H1 2024, with positive cash generation of €0.9 million.

Financial highlights

• Operating income for H1 2024 was €1.9 million, with an operating margin of 8.6%.

• Personnel expenses fell 5% and other operating expenses dropped 9% year-over-year.

• Net financial debt reduced by €3.1 million to €18.9 million by mid-2024.

• Net gearing ratio improved to 57% from 68% at end-2023.

Outlook and guidance

• Order book reached €15.1 million by mid-September 2024, up from €9.5 million at end-June.

• Targeting higher operating profitability and EBITDA margin for full year 2024 compared to 2023.

• Continued focus on financial deleveraging and strong cash generation.