Almunda Professionals (AMUND) H1 2024 earnings summary

Executive summary

• Revenue increased to €14.6 million in H1 2024 from €12.1 million in H1 2023, driven by the consolidation of ICE Interim and positive contributions from all segments.

• EBITDA rose to €2.7 million from €2.3 million year-over-year; net profit attributable to shareholders improved to €0.23 million from €0.20 million.

• Adjusted net profit attributable to shareholders (excluding amortization) reached €1.23 million, up from €1.08 million; adjusted EPS was 6.0 eurocents versus 5.9 eurocents.

• The balance sheet remains healthy with equity attributable to shareholders at €12.07 million and a robust solvency ratio of 37%.

• Dividend of €1.2 million for 2023 was processed; a new CEO for PIDZ will start November 2024.

Financial highlights

• H1 2024 revenue: €14.6 million (+20% year-over-year); EBITDA: €2.7 million (+17%).

• EBIT: €0.96 million (H1 2023: €0.86 million); net profit: €0.40 million (H1 2023: €0.29 million).

• Net cash position: €3.3 million (June 2024), down from €5.9 million (Dec 2023).

• Personnel costs increased to €7.94 million (H1 2023: €6.09 million); external costs rose to €2.25 million.

• Dividend of €0.06 per share paid in July 2024, with option for stock or cash.

Outlook and guidance

• Full-year 2024 revenue expected to be higher; market conditions are more challenging than last year.

• No specific profit guidance provided for the remainder of 2024 due to market uncertainties.