Infotel (INF) Q3 2024 TU earnings summary

Executive summary

• Q3 2024 revenue stable at €70.3m, ending a two-quarter decline and signaling gradual recovery in demand from key accounts.

• Nine-month 2024 revenue at €219.5m, down 4.1% year-over-year, with Services down 4.7% and Software up 10.9%.

• Positive outlook for Q4 2024, with expected growth resumption and improved profitability.

Financial highlights

• Q3 2024 revenue: €70.3m, flat year-over-year; Q1 and Q2 saw declines of 5.6% and 6.2% respectively.

• Software revenue up 31.5% in Q3; Services down 1.3%.

• IBM royalties reached €1.7m in Q3, up 21% year-over-year; total royalties €4.5m YTD (+20%).

• Orlando software suite generated €1.2m in Q3, €2.8m YTD (+49.3%), boosted by new airline contracts.

Outlook and guidance

• Growth expected to resume in Q4 2024, with profitability set to improve due to higher activity rates.