Rebl Group (REBL) Q4 2024 earnings summary

Executive summary

• Revenue for Q3 2024 remained flat at €25.0 million compared to Q3 2023; EBITDA was €1.9 million (Q3 2023: €2.0 million).

• Operating result for Q3 was -€0.3 million (Q3 2023: -€0.2 million); net result before taxes improved to -€0.9 million from -€1.7 million.

• Sale of media business completed in Q2 2024; segment now classified as discontinued operations.

• For 1-9/2024, revenue declined 1.1% to €83.5 million; operating result was -€1.9 million (1-9/2023: -€1.4 million).

• Net cash flow from operations for 1-9/2024 was €2.8 million, down from €10.2 million in the prior year.

Financial highlights

• Q3 2024 EPS was -€0.06 (Q3 2023: -€0.13); 1-9/2024 EPS was -€0.25 (1-9/2023: -€0.29).

• Equity ratio improved to 40.3% (1-9/2023: 32.2%); return on invested capital before taxes was 10.6%.

• Interest-bearing debt decreased to €40.8 million (1-9/2023: €49.6 million).

• Discontinued media operations generated a one-time gain of €9.9 million in Q2.

Outlook and guidance

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

• Market recovery is slow; growth in demand now expected in H1 2025.

• Investments and restructuring expected to support profitability in 2025.