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ELO (ELO) investor relations material
ELO H2 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue increased 1.6% to €32.3 billion in 2024, with 98% from retail and 2% from real estate.
EBITDA declined 16.9% to €1,224 million; net income was a loss of €1,220 million, mainly due to impairments and restructuring.
Major acquisitions included Casino stores in France and DIA in Portugal, expanding the retail footprint.
Significant restructuring in France, with a €250 million provision and a plan impacting up to 2,400 jobs.
New Immo Holding continued asset rotation, including disposals in Russia, Portugal, and France.
Financial highlights
Gross margin rose 1.1% to €7,907 million, but margin rate slightly decreased to 24.5%.
Recurring operating income dropped to €22 million from €320 million in 2023.
Non-recurring expenses totaled €868 million, driven by goodwill impairment and restructuring.
Net financial debt was €2,921 million, representing 59% of equity and 2.4 years of EBITDA.
Equity (Group share) decreased to €4,778 million.
Outlook and guidance
Signs of recovery in retail in H2 2024, with 4.2% revenue growth at constant exchange rates.
Strategic focus on price repositioning, new sales plans, and operational efficiency in France.
New Immo Holding to continue dynamic asset management and site attractiveness initiatives.
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