Infotel (INF) Q4 2024 TU earnings summary

Executive summary

• 2024 revenue declined 4.2% year-over-year to €294.8m, with Services down 4.9% and Software up 15.6%.

• Q4 2024 revenue fell 4.4% compared to Q4 2023, mainly due to economic headwinds and reduced investments from key clients.

• Workforce stabilized with 387 new hires, ending the year with 3,083 employees and a low inter-contract rate of 3.4%.

Financial highlights

• Services revenue for 2024 was €281.4m, down from €296.0m in 2023.

• Software revenue reached €13.3m, up from €11.5m, with Q4 Software up 31.1% year-over-year.

• IBM royalties contributed €6.1m in 2024, including €1.6m in Q4.

• Orlando software suite revenue grew 43% to €4.0m, now serving over 50 airlines.

Outlook and guidance

• Business expected to stabilize in H1 2025 with slight growth, and investment recovery anticipated in H2 2025.

• New opportunities seen in cloud and AI, with concrete AI contracts and infrastructure projects planned.

• International expansion and strong cash position (>€120m) support future development.