Sword Group (SWP) H2 2024 earnings summary

Executive summary

• Achieved consolidated revenue of €323.0m in FY 2024, up 15.9% organically year-over-year, with an EBITDA margin of 12.0%.

• Overcame a challenging year with significant organic growth and improved cash generation.

• Expanded international footprint, secured major contracts in energy, public sector, and financial services, and advanced Vision 2028 strategic plan.

• Top 10 clients accounted for 36.8% of revenue, with the largest client representing 9.7%.

Financial highlights

• Revenue grew to €323.0m from €281.6m in 2023, with organic growth at 15.9%.

• EBITDA reached €38.8m (12.0% margin), and net profit after tax was €24.1m (7.5% margin).

• Net cash position at year-end was €17.8m, up from €4.8m at mid-year, with a €20m increase in Q4.

• Backlog increased to €631.8m (21.1 months of activity) at year-end.

• Share return for 2024 was -6.1%, with a dividend of €1.7 per share.

Outlook and guidance

• Strategic plan targets double-digit annual organic growth, aiming for €560m revenue and €1bn+ market cap by 2028.

• Focus on sector specialization, digital platform expansion, and international growth, especially in energy, public sector, and financial services.

• Continued investment in AI, cybersecurity, and managed services to drive future growth.