Rebl Group (REBL) Q3 2024 earnings summary

Executive summary

• Revenue for Q3 2024 remained flat at €25.0 million compared to Q3 2023; EBITDA was €1.9 million, and operating result was -€0.3 million.

• For the nine months, revenue declined 1.1% to €83.5 million; operating result was -€1.9 million, and net result before taxes improved to -€3.5 million.

• Media business was divested in April 2024; results are reported as discontinued operations.

• Market conditions remained challenging, especially for digital business, due to slow economic recovery and weak corporate confidence.

Financial highlights

• Q3 EBITDA was €1.9 million (Q3 2023: €2.0 million); operating result -€0.3 million (Q3 2023: -€0.2 million).

• Q3 EPS was -€0.06 (Q3 2023: -€0.13); nine-month EPS was -€0.25 (2023: -€0.29).

• Net cash flow from operations for nine months was €2.8 million (2023: €10.2 million).

• Equity ratio improved to 40.3% (2023: 32.2%); net debt decreased to €40.8 million (2023: €49.6 million).

• Return on invested capital before taxes was 10.6% (2023: -1.6%).

Outlook and guidance

• Full-year 2024 revenue from continuing operations expected to remain at 2023 levels; operating result to weaken from 2023.

• Market recovery is expected to accelerate in H1 2025, with investments and restructuring expected to support profitability.