Chargeurs (CRI) Q4 2024 earnings summary

Executive summary

• Completed a decade-long transformation, rebranding as Compagnie Chargeurs Invest, and opened a new strategic chapter following a successful public tender offer in spring 2024.

• Operates as a developer of global champions in industry and services, focusing on Culture & Education, Fashion & Know-how, and Innovative Materials.

• Recognized for active portfolio management, long-term family and institutional shareholder base, and a strong CSR policy.

• Published first Net Asset Value (NAV) of €24.1 per share.

Financial highlights

• 2024 revenue reached €729.6m, up 11.9% year-over-year, with all business segments and geographies contributing.

• Gross profit rose 19.8% to €206.8m (28.3% margin), EBITDA increased 42.2% to €65.0m (8.9% margin), and recurring operating profit surged 73.9% to €39.3m (5.4% margin).

• Net profit was €7.4m, reversing a loss in 2023; EPS improved to €0.30.

• Operating cash flow was €63.8m, enabling a €15m reduction in net financial debt to €236.4m.

• Dividend per share proposed at €0.13 for 2024, with payment option in shares.

Outlook and guidance

• Targets 8–10% CAGR in net asset value from 2025–2030, with leverage ratio stabilizing between 2x–3x net debt/EBITDA.

• Expects lower financial expenses in 2025 due to reduced indebtedness and interest rates.

• Focus on accelerating sustainable value creation and maintaining a controlled debt level.