Bolloré (BOL) H2 2024 earnings summary

Executive summary

• Net income Group share reached €1,822 million, up sharply from €268 million in 2023, driven by the sale of Bolloré Logistics and Vivendi spin-off.

• Revenue was €3,130 million, down 4% at constant scope and exchange rates year-over-year.

• Adjusted operating income (EBITA) was €1 million, reflecting equity accounting changes post-Vivendi spin-off.

• Proposed dividend of €0.08 per share, up 14%, with €0.02 interim already paid.

• Major changes in scope: sale of Bolloré Logistics, Vivendi spin-off, and reclassification of several entities as equity-accounted.

Financial highlights

• Revenue declined 1% on a reported basis to €3,130 million; organic decline of 4%.

• EBITDA fell 54% to €48 million; EBITA dropped 98% to €1 million.

• Net cash position at year-end was €5,306 million, compared to net debt of €1,465 million at end-2023.

• Shareholders' equity Group share rose to €25,448 million, mainly due to the capital gain on the Bolloré Logistics sale.

• Net financial income improved to €145 million from -€18 million in 2023, benefiting from investment income post-disposals.

Outlook and guidance

• Dividend increase to €0.08 per share reflects confidence in future cash flows and financial strength.

• Group liquidity remains strong with €8 billion in cash and confirmed credit lines at year-end.

• Ongoing review of group structure and investments following major disposals and spin-offs.