Broadpeak (ALBPK) H2 2024 TU earnings summary

Executive summary

• Achieved a return to sales growth in 2024, with annual revenue reaching €39.4m, up 0.9% year-over-year.

• Second half of 2024 saw a 5.9% increase in sales after a 5% decline in the first half.

• Positive free cash flow target was met for 2024.

Financial highlights

• Total revenue for 2024 was €39.4m, up 0.9% compared to 2023.

• Non-equipment revenues (recurring and licenses & services) rose 9.6% and made up 91% of total sales.

• Maintenance & SaaS revenues increased by 22.0% to €15.6m, now 39.5% of annual revenue.

• Equipment sales declined by 44.1% to €3.5m.

• Gross margin rate improved due to favorable product mix shift.

Outlook and guidance

• 2027 targets reaffirmed: revenue above €50m, 50% recurring revenue, and EBITDA margin around 15%.

• Focus for 2025 remains on growth and improving results, with caution due to market conditions.