GROUPE SFPI (SFPI) H2 2024 earnings summary

Executive summary

• 2024 turnover reached €666 million, with 47% of sales generated internationally and 4,011 employees, 45% outside France.

• Consolidated sales for 2024 were €665.8m, down 3.3% year-over-year, mainly due to a decline in the MAC division from construction sector contraction and adverse weather for solar protection.

• Group operates in safety for people and industry, structured around construction (68% of sales) and industry (32% of sales) sectors.

• Despite lower sales, gross margin improved by 2.2 points to 59.3%, reflecting strong cost control.

• Net income surged to €14.7m (2.2% of sales) from €0.9m in 2023, with operating income at €18.5m, up €9.6m year-over-year.

Financial highlights

• Sales totaled €665.8M in 2024, down from €688.8M in 2023.

• Gross margin improved to 59.3% of sales (up 2.2 pts year-over-year).

• Recurring operating income rose to €29.7M (4.5% of sales), EBITDA margin increased to 8.4%.

• Net cash position at year-end was €145.1M, with a net financial surplus of €76.4M (+68% vs. 2023).

• Earnings per share increased to €0.16 from €0.01 year-over-year.

Outlook and guidance

• Anticipates recovery in real estate and construction, with continued support for building renovation.

• Expects stable and consolidated business in 2025, with sales forecasted at €668M.

• Board proposes an €0.08 per share dividend, totaling €7.5M, subject to AGM approval.

• Management expresses confidence in continued financial strength and ambition for European leadership in industrial responsibility.