Arverne Group (ARVEN) H2 2024 earnings summary

Executive summary

• Achieved all 2024 objectives, with strong growth in geothermal and lithium project development.

• Positioned as an integrated player across the geothermal and lithium value chain, with strategic partnerships and a unique technology offering.

• Secured a major 5-year offtake contract for 25 kt of geothermal lithium with Renault.

• Delivered key geothermal projects for major clients, including Roissy CDG and Safran, reducing CO₂ emissions and energy costs.

Financial highlights

• Gross activity volume reached €17.3M in 2024, up 45% year-over-year, in line with guidance.

• Consolidated revenue rose 40% to €14.1M, driven by geothermal installations and drilling services.

• EBITDA was negative, reflecting ongoing investment and ramp-up; net result at -€11.1M, improved from -€53.8M in 2023.

• CAPEX deployed totaled €51.9M, supporting strategic asset growth and project pipeline.

• Total assets increased to €255M, with €123.8M in cash and equivalents at year-end.

Outlook and guidance

• 2025 gross activity volume targeted at €25–30M (+45% to +75%).

• Investment program of ~€50M planned for 2025.

• First operations for the Alsace geothermal & lithium project expected in 2025, with industrial ramp-up from 2027.

• 2031 targets: €900–1,000M consolidated revenue, 70% EBITDA margin, 4 TWh geothermal heat, 27 kt/year lithium carbonate.