Quadient (QDT) CMD 2024 summary

Strategic vision and market positioning

• Launched the "Elevate to 2030" plan to achieve sustainable growth and leadership in intelligent automation, focusing on a recurring business model and customer-centric platform.

• Positioned at the intersection of digitization, e-commerce logistics, ESG, and AI-driven automation, serving both digital and physical business needs.

• Maintains a diversified customer base across enterprise, mid-market, and SMB, with a stronghold in regulated industries and high customer satisfaction.

• Committed to providing secure, reliable, and sustainable solutions, with a focus on ESG and net zero emissions by 2050.

Financial guidance and growth targets

• Targets over €1bn in subscription revenue and €250m current EBIT by 2030, with group revenue expected to exceed €1.3bn.

• Digital platform aims for over €500m revenue and 30% EBITDA margin by 2030, with over 90% subscription-related revenue.

• Mail platform projects around €600m revenue and 20-25% EBITDA margin by 2030, maintaining high recurring revenue despite a -3% CAGR.

• Lockers business targets over 40,000 installed units, €200m+ revenue, and 20% EBITDA margin by 2030.

• Financial guidance for 2024-2026 includes minimum 1.5% organic revenue CAGR, 3% EBIT CAGR, and average annual capex of €100m.

Business model and operational execution

• Dual growth levers: acquisition of new customers/sites and expansion within the existing base, with expansion accounting for about 70-80% of growth.

• Over 1,000 direct sellers and 1,300 partners drive market reach, supported by agile squads and AI-driven targeting.

• Platform approach integrates digital, mail, and lockers, enabling seamless cross-sell and upsell, with a focus on regulatory compliance and data security.

• Transitioned Digital business to SaaS, achieving 80% subscription-related revenue in Digital by 2023.

• Open network model in Lockers, proven in Japan and being replicated in the UK, focuses on density and innovation to drive usage and profitability.