Planisware (PLNW) H1 2024 earnings summary

Executive summary

• H1 2024 revenue grew 19.6% in constant currencies to €86.6–87 million, driven by SaaS platform success, strong recurring revenue, and robust commercial momentum with both existing and new clients.

• Recurring revenue comprised 88% of total, with SaaS contributing 78% and strong commercial traction and record pipeline.

• Profitability and cash generation were fully in line with annual objectives, with adjusted EBITDA margin at 33.5% and cash conversion at 127%.

• Strategic pillars and geographical diversification supported growth resilience and confidence in meeting 2024 and midterm objectives.

• 2024 objectives for revenue growth, profitability, and cash conversion confirmed.

Financial highlights

• H1 2024 revenue reached €86.6–87 million, up 19.6% in constant currency year-over-year.

• Adjusted EBITDA rose 29.3% to €29 million, margin at 33.5% (+260 bps YoY).

• Gross profit was €61.7 million (+25% YoY), with gross margin improving to 71.3% (+320 bps YoY).

• Adjusted free cash flow was €36.8–37 million, with a cash conversion rate of 127%.

• Net cash position at €156–156.4 million as of June 2024, with no financial debt except lease liabilities.

Outlook and guidance

• 2024 guidance confirmed: ~19.5% revenue growth in constant currencies, ~33% adjusted EBITDA margin, and ~80% cash conversion.

• Confidence in delivering delayed new logo projects by year-end, supported by strong recurring revenue.

• Midterm outlook supported by Project Economy trends and multiple strategic growth levers.