GROUPE SFPI (SFPI) H1 2024 earnings summary

Executive summary

• H1 2024 turnover was €341.6M, down 4.2% year-over-year, with 46% of sales international and 4,084 employees, 45% outside France.

• Group structured around Construction (71% of H1 sales) and Industry (29%).

• Net income rose 52% to €9.9M, driven by improved financial income.

• Operating income increased by €0.7M to €13.2M (+5.6% year-over-year).

Financial highlights

• H1 2024 sales declined 4.2% year-over-year to €341.6M; gross margin improved by 2.7 points to 59.8%.

• Recurring operating income was €13.4M, stable at 3.9% of sales.

• Consolidated net income rose to €9.9M (2.9% of sales); earnings per share increased to €0.11.

• EBITDA reached €25.6M; net cash position at €132.7M; net financial excess increased 15% to €51.9M.

• Cash flow from operating activities was €20.1M, up €1.2M year-over-year.

Outlook and guidance

• 2024 full-year sales forecast at €665M, down from €689M in 2023.

• Management remains focused on margin recovery and maintaining financial solidity.