STIF (ALSTI) H1 2024 earnings summary

Executive summary

• Achieved consolidated revenue of €27.7M for H1 2024, up 69% year-over-year, driven by strong growth in explosion protection products, especially for BESS.

• EBITDA rose 340% to €6.3M and net income up 634% to €3.4M.

• Major contracts with Tesla and Sungrow in the BESS segment, with BESS-related sales now 40% of total revenue.

• Expanded industrial footprint with a new US plant and increased production capacity in China.

• International sales accounted for 83% of revenue, with significant expansion in the US and Asia.

Financial highlights

• Revenue for H1 2024 reached €27.7M, up 69% year-over-year; France segment up 71%.

• EBITDA: €6.3M, +340% year-over-year; net profit (group share): €3.4M, +629% year-over-year.

• Operating income: €4.7M, +538% year-over-year.

• Gross margin improved to 64.6% from 55.4% a year earlier.

• Strong cash position: closing cash €10.9M.

Outlook and guidance

• Reaffirmed ambition for €60M consolidated revenue in 2024 and €80M by 2027.

• Targeting €61M revenue and EBITDA >20% of revenue by end-2025; €80M revenue by 2027.

• EBITDA margin expected to remain above 20% for 2024 and subsequent years.

• Exceeded 2027 profitability target already in 2024.

• Anticipates further growth in export markets and new production ramp-up in Texas.