Planetel (PLN) H1 2024 earnings summary

Executive summary

• Value of production reached €19.7 million, up 16% year-over-year, with core business turnover at €18.5 million, also up 16% year-over-year.

• EBITDA rose 20% to €4.6 million, and net result increased 26% to €0.6 million compared to the same period last year.

• Customer base grew by 3,269 units year-over-year, reaching 53,004 customers, and fibre infrastructure expanded to 3,226 km (+4.1% YoY).

• Cloud and Data Centre earnings surged 59% year-over-year to €4.0 million.

• Integration of recent acquisitions and expansion of services contributed to improved profitability and market position.

Financial highlights

• EBITDA margin remained stable at 23% year-over-year.

• EBIT increased 38% to €1.2 million, with EBIT margin rising to 6% from 5% last year.

• EBT reached €0.9 million (up from €0.7 million), with EBT margin at 5% (up from 4%).

• Operating result was €0.6 million, up 26% year-over-year.

• Net equity stood at €22.1 million, unchanged from year-end 2023.

Outlook and guidance

• The company continues to pursue growth through integration of acquisitions, expansion of cloud and cybersecurity services, and R&D investments.

• No direct exposure to geopolitical risks from Russia-Ukraine or Israel-Palestine conflicts.

• Ongoing scouting for new acquisitions, especially in Veneto and Lombardy regions.