Amper (AMP) H1 2024 earnings summary

Executive summary

• Achieved strong operational performance in 1H 2024, with sales up 12.4% and EBITDA up 30.5% year-over-year, driven by organic growth and efficiency measures.

• Margins improved, with EBITDA margin rising 0.8 percentage points to 6.0%, reflecting focus on higher-value projects.

• Results are aligned with annual targets of €428M in sales and €35M EBITDA for organic business.

Financial highlights

• Sales reached €203.2M (+12.4% YoY); EBITDA was €12.2M (+30.5% YoY); EBIT rose to €3.6M (+38.5% YoY).

• Net financial result worsened to -€7.5M due to higher financial expenses and FX losses; net profit after tax was -€3.8M, but would be at break-even including a €3.7M gain from a post-period asset sale.

• Order backlog stood at €399.6M (+1% YoY, +3.6% vs. Dec 2023).

Outlook and guidance

• On track to meet 2024 targets: €428M in sales, €35M EBITDA, and net debt/EBITDA ratio of 3.2x.

• Commercial pipeline and backlog support full-year objectives; potential for additional sales and EBITDA from ongoing inorganic growth initiatives.