Alumexx (ALX) H1 2024 earnings summary

Executive summary

• Revenue increased by 38% to €21.1 million in H1 2024 compared to €15.3 million in H1 2023, driven by synergies from 2023 acquisitions.

• Gross margin rose from 45% to 51% (adjusted for one-time effects), reflecting improved efficiency and integration.

• EBITDA reached €3.8 million in H1 2024, up from €3.2 million in H1 2023 (adjusted), with net profit of €668,000 versus a loss of €336,000 last year.

• 2024 is a transition year due to integration of acquired companies and changes in production strategy, focusing more on European suppliers.

• Despite challenging construction sector conditions and weather, July and August 2024 showed renewed growth, supporting a positive outlook.

Financial highlights

• Net revenue: €21.1 million in H1 2024, up 38% year-over-year.

• Gross margin: 51% in H1 2024, up from 45% (adjusted) in H1 2023.

• EBITDA: €3.8 million in H1 2024, up from €3.2 million (adjusted) in H1 2023.

• Net profit: €668,000 in H1 2024, compared to a loss of €336,000 in H1 2023.

• Earnings per share: €0.060 in H1 2024, compared to -€0.019 in H1 2023.

Outlook and guidance

• Management expects improved results in H2 2024 and 2025, supported by positive industry forecasts and increased export activity.

• New product development underway for expansion in 2025/2026.