BOA Concept (ALBOA) H1 2024 earnings summary

Executive summary

• S1 2024 revenue was €4.2M, down from €9.0M in S1 2023, reflecting a challenging economic environment.

• Maintained strong cash position at €9.6M as of June 30, 2024.

• Continued investment in R&D and innovation, with new automation solutions and international expansion, including a subsidiary in Quebec and first contract in Côte d'Ivoire.

• Maintained strong cost control and a solid financial structure.

Financial highlights

• S1 2024 revenue: €4.2M, down from €9.0M in S1 2023.

• EBITDA for S1 2024: -€1.1M, compared to €1.1M in S1 2023.

• Net result S1 2024: -€0.7M, versus €0.9M in S1 2023.

• Total operating income was €5.0M in H1 2024, compared to €9.3M in H1 2023.

• Operating expenses and personnel costs reduced in line with lower activity.

Outlook and guidance

• Signs of economic and business recovery anticipated in H2 2024, with recent contract wins improving visibility.

• Focus on North American market expansion and continued internationalization, including a subsidiary in Quebec and new contract in Côte d'Ivoire.

• Ongoing external growth strategy, with Easy Systems acquisition completed and further opportunities under review.

• Confident in strategy focused on technological enrichment, market diversification, and operational excellence.