Compagnia dei Caraibi (TIME) H1 2024 earnings summary

Executive summary

• Consolidated revenues for H1 2024 reached €28.2 million, up 7.8% year-over-year, driven by B2B sales in Italy, indirect international markets, and B2C growth.

• Despite revenue growth, the Group posted a net loss of €2.0 million, with negative EBITDA and EBIT margins, reflecting margin pressure and extraordinary items.

• The Group remains focused on premium and ultra-premium beverage distribution, international expansion, and building its own brand portfolio.

Financial highlights

• Revenues: €28.2 million (+7.8% vs. H1 2023); B2B sales €24.7 million (+1.6% vs. H1 2023).

• EBITDA: -€708k (margin -2.5%), down from €14k in H1 2023; Adjusted EBITDA: -€426k (margin -1.5%).

• EBIT: -€1.56 million (margin -5.5%); Adjusted EBIT: -€1.28 million.

• Net loss: €2.0 million (vs. €1.58 million loss in H1 2023); Adjusted net loss: €1.73 million.

• Net financial position: -€9.5 million (improved from -€10.3 million at 31 Dec 2023).

Outlook and guidance

• Positive performance expected in H2 2024, despite a volatile macroeconomic context and margin pressure.

• Focus on cost reduction, margin improvement, and steady growth of owned and co-owned brands.

• Medium-term outlook remains optimistic, supported by easing inflation and operational efficiencies.