Soluciones Cuatroochenta (480S) Q4 2024 earnings summary

Executive summary

• Achieved record revenue of €27.6M in 2024, up 23% year-over-year, surpassing sector forecasts.

• EBITDA reached €3.24M, up 57% with a margin of 11.7%, an increase of 252 basis points from 2023.

• Net profit rose to €1.13M, a sixfold increase, driven by improved EBITDA and equity investments.

• Growth was entirely organic, with no acquisitions in 2024, but M&A pipeline remains active and supported by a €2M Eiffel convertible bond.

• ARR grew 28% to €19.35M, with 47% of sales outside Spain, reflecting strong international expansion.

Financial highlights

• Operating cash flow reached €5.11M, supported by improved results and advance project payments.

• Net financial debt/EBITDA reduced to 1.5x, the lowest in five years, with net financial debt at €4.86M.

• 68% of debt is at fixed rates, with an average cost of 3%.

• 2024 BME Growth share price up 58%; trading volume +48% year-over-year.

• Basic EPS: €0.42 (vs €0.06 in 2023); Diluted EPS: €0.40.

Outlook and guidance

• 2025 organic revenue growth target above 10%, with continued focus on M&A and international expansion.

• Financial strength and new €2M convertible bond agreement with Eiffel Investment Group will support future inorganic growth.