GPI S p A (GPI) H1 2024 earnings summary

Executive summary

• Achieved strong H1 2024 results, with revenue up 27% to €236 million, driven by software and international expansion, including the acquisition of Evolucare.

• EBITDA rose 76% to €41 million, with margin improving to 18.3% on adjusted revenue.

• Net income reached €85.8 million, including an €82.8 million capital gain from the Argentea sale.

• Strengthened global presence, now operating in 70 countries with over 9,000 customers.

• Extraordinary dividend of €0.35 per share proposed, with total 2024 dividends at €0.85 per share.

Financial highlights

• H1 2024 revenue reached €236.4 million, up 27% year-over-year, with organic growth over 12%.

• EBITDA increased to €41 million (+76%), with margin improving to 18.3% on adjusted revenue.

• Net financial debt decreased to €297.5 million from €364.9 million at year-end 2023.

• CapEx totaled €24 million, with €13.8 million allocated to R&D.

• Shareholders' equity rose to €298.2 million, reflecting increased profits and dividend distribution.

Outlook and guidance

• FY 2024 revenues expected to exceed €500 million, with EBITDA around €100 million.

• Net financial position expected to remain in compliance with covenants, with resources for future growth.

• New industrial plan to focus on global software expansion and further M&A.