Officina Stellare (OS) H2 2024 earnings summary

Executive summary

• Value of production reached €22.0 million at December 31, 2024, up 20% year-over-year from €18.4 million in 2023.

• EBITDA was €4.7 million (21.4% margin), down 21.1% year-over-year due to higher personnel costs and absence of extraordinary income.

• Net income declined 54.3% year-over-year to €1.0 million, reflecting increased financial charges and lower margins.

• Workforce grew by 38% (FTE), supporting expansion in recurring, high-value contracts.

• Backlog at April 30, 2025, stood at €48.7 million, covering 2025–2028, with strong positions in Laser SATCOM and Earth Observation.

Financial highlights

• Revenue from sales was €16.0 million, up 9.1% year-over-year.

• EBITDA margin dropped from 32.6% to 21.4% year-over-year.

• EBIT was €1.6 million (7.4% margin), down 47.5% year-over-year.

• Net financial debt increased to €12.3 million from €9.9 million at year-end 2023, mainly due to reduced liquidity and higher medium/long-term loans.

• Equity rose to €17.3 million from €16.3 million year-over-year.

Outlook and guidance

• Management expects continued growth, supported by a rising order book and multi-year tenders.

• Strategic focus remains on innovation, technological specialization, and sustainable business models.

• Plans include potential inorganic growth via partnerships, alliances, and targeted acquisitions.

• Ongoing emphasis on attracting and retaining highly specialized talent.