Planetel (PLN) H2 2024 earnings summary

Executive summary

• Achieved double-digit growth in all key performance indicators for 2024, with consolidated turnover up 12% YoY, EBITDA up 14% YoY, and EBIT up 10% YoY.

• Adjusted net profit rose 28% YoY, driven by acquisitions and expanded customer base, despite reported net profit slightly declining due to goodwill amortisation and intercompany dividends.

• Strengthened market position through strategic partnerships and M&A, including the acquisitions of Connetical S.r.l. and Suardi S.r.l., and the merger of Net-Admin S.r.l.

• Proposed dividend of €0.12 per share, totaling €0.8 million, with the shareholders' meeting scheduled for April 2025.

Financial highlights

• Consolidated turnover reached €37.2 million (+12% YoY), with recurring turnover representing 90% of total earnings.

• EBITDA was €9.3 million (+14% YoY, 24% margin); EBIT was €2.1 million (+10% YoY, 5% margin).

• Adjusted EBIT (excluding goodwill amortisation) was €2.7 million (+4% YoY).

• Net profit was €1.3 million (down from €1.4 million YoY), while adjusted net profit was €3.2 million (+28% YoY).

• Group net financial position was cash-negative €16.8 million, worsening from €13.3 million in 2023, mainly due to acquisitions and treasury share purchases.

Outlook and guidance

• Management forecasts continued growth for 2025, focusing on fibre network expansion, new customer activation, and further M&A in connectivity, cloud, and cybersecurity.

• Planned launch of PLANETEL.CLOUD and opening of a new office and EDGE Data Centre in Padua.

• Emphasis on synergies, integrated service offerings, and maintaining a high level of digital experience for business customers.