MTI Investment (MTI) H2 2024 earnings summary

Executive summary

• Group revenue increased 32% year-over-year to EUR 405,475, driven by new income streams and project launches, notably the NORAD project in H2 2024.

• EBITDA loss improved by 33% to EUR -826,665, and net loss narrowed by 13% to EUR -1,321,069 for the full year.

• Key markets Kenya and Tanzania remained resilient despite declining investment inflows in Africa, with GDP growth of 4.7% and 5.4% respectively in 2024.

• Portfolio companies showed mixed performance: strong growth in microfinance and dairy, underperformance in construction and waste management.

• Strategic focus for 2025 includes business development, post-investment support, and leveraging grants to drive value creation.

Financial highlights

• H2 2024 group revenue rose 74% to EUR 348,411 compared to H2 2023.

• Full-year EBITDA loss improved to EUR -826,665 from EUR -1,250,994 year-over-year.

• Net loss for 2024 was EUR -1,321,069, a 13% improvement from 2023.

• Cash and cash equivalents at year-end were EUR 676,656, down slightly from EUR 704,805.

• Net cash flow for the year was EUR -26,775, with positive cash flow in H2 2024.

Outlook and guidance

• Focus on converting value creation in East Africa into long-term shareholder returns through a growth portfolio and post-investment support.

• Plans to de-risk investments by supporting businesses at earlier stages and building strong management relationships.

• Continued emphasis on attracting grants and tenders to supplement cash flows.