Cogelec (ALLEC) H2 2024 earnings summary

Executive summary

• Revenue grew 12.9% year-over-year to €74.5m in 2024, with double-digit growth in France and Europe.

• Subscription-related revenue rose 17.2% to €23.4m, now 31.5% of total revenue.

• Net income increased 25.6% to €5.7m, and EBITDA rose 22.3% to €12.4m.

• Q1 2025 revenue up 19.6% year-over-year to €22.1m, with strong growth in both France and Europe.

• Proposed dividend of €0.58 per share for 2024, up from €0.38 in 2023.

Financial highlights

• Gross margin improved to €49.3m (66.2% of revenue), up from €43.4m (65.7%) in 2023.

• Current operating income rose 44.7% to €7.4m.

• Net financial income increased to €0.8m from €0.3m.

• Shareholders' equity at €10.2m, financial debt at €19.0m, and gross cash at €24.6m as of Dec 31, 2024.

Outlook and guidance

• Expects stronger business growth in 2025 than in 2024, with further improvement in EBITDA ratio.

• Q1 2025 revenue growth driven by innovative products and favorable product mix.