Sidetrade (ALBFR) H2 2024 earnings summary

Executive summary

• Achieved record order intake in 2024, with ACV up 13% year-over-year to €12.73m, driven by strong US and Northern Europe performance.

• Turnover grew 26% to €55.0m, with SaaS subscriptions up 22% and services up 47%; organic growth (excluding SHS Viveon) was 16%.

• Strategic acquisition of SHS Viveon AG expanded presence in the DACH region, contributing €4.4m to H2 turnover and 15% of H2 revenue.

• International revenue now represents 65% of total turnover, with North America up 36% to €16.6m.

• Subscriptions from multinationals with >€2.5b turnover grew 44%, now 50% of all subscriptions.

Financial highlights

• Operating margin rose to 15% of turnover (€8.4m), up 45% from 2023; net income increased 40% to €7.9m.

• Gross margin reached 78% of turnover (92% for SaaS), with incremental gross margin up €7.8m year-over-year.

• Operating cash flow was €9.6m; gross cash at year-end was €25.2m, up €1.3m despite €5.2m net outflow for SHS Viveon acquisition.

• Financial debt decreased to €7.9m (down €2.3m); equity increased by €8.4m.

• Headcount at year-end was 405, with 70% of staff based abroad.

Outlook and guidance

• Strong Q4 order intake (+33% New ARR) sets up positive momentum for 2025.

• Focus for 2025 will be on US market expansion, leveraging AI and generative AI capabilities.

• Management expects continued growth and profitability in 2025 and beyond.