Obiz (ALBIZ) H1 2024 earnings summary

Executive summary

• Achieved consolidated revenue of €58.2M for H1 2024, up 205% year-over-year, driven by acquisitions and organic growth.

• Pro forma revenue growth was 16% compared to H1 2023, reflecting strong underlying business momentum.

• Major acquisitions included 51% of Mile Positioning Solutions and 100% of HA PLUS PME, expanding digital and B2B offerings.

• Strategic partnerships and contract renewals, notably with VINCI Autoroutes, reinforced recurring revenue streams.

Financial highlights

• EBITDA rose 47% year-over-year to €1.0M, with operating income at €0.3M for H1 2024.

• Net result (group share) was -€0.5M, impacted by goodwill amortization; adjusted net result excluding goodwill was -€0.2M.

• Fixed operating costs increased, notably personnel (+65%) and external charges (+177%), reflecting scope changes.

• Net cash position at June 30, 2024, was €5.1M, down from €9.4M at year-end 2023, due to investments and acquisitions.

• Equity stood at €14.1M, with financial debt mainly from bank loans and “Obligations Relance.”

Outlook and guidance

• Full-year 2024 guidance confirmed: revenue above €125M (+50% vs. 2023) and EBITDA above €3.5M (+59% vs. 2023).

• Targeting over 35 new relational and affinity programs in 2024, with 22 already signed in H1.