AdUX (ADUX) H1 2024 earnings summary

Executive summary

• Revenue for H1 2024 reached €12.1M, up 15% year-over-year, with gross margin stable at 45%.

• EBITDA rose 31% to €1.8M, and net income increased to €1.1M from €0.6M in H1 2023.

• The company transferred its listing from Euronext Paris/Amsterdam to Euronext Growth Paris to better align with its size and reduce costs.

• Leadership changes included the appointment of Catharina Hillström as Board Chair, replacing Benjamin van de Vrie.

Financial highlights

• Revenue: €12.1M (+15% vs. H1 2023); gross margin: €5.5M (+15%), margin rate stable at 45%.

• EBITDA: €1.8M (+31% vs. H1 2023); net income: €1.1M (vs. €0.6M in H1 2023); EPS: €0.18 (vs. €0.09).

• Personnel expenses decreased by 17% to €1.4M; purchases increased to €2.2M from €1.6M.

• Cash and equivalents at period end: €0.6M, down from €1.9M at year-end 2023.

• Operating cash flow was negative at -€0.8M for H1 2024.

Outlook and guidance

• The group expects to maintain profitability, with EBITDA margin on revenue as a key target.

• H1 2024 growth outpaced the digital display market (+19% in Q2 vs. market +15%).

• Continued focus on cost control and commercial offer adaptation amid economic uncertainty.