Balyo (BALYO) H2 2024 earnings summary

Executive summary

• Full-year 2024 sales grew 9% to €29.1 million, with Q4 sales up 22% year-over-year.

• Direct sales model now fully implemented, generating 86% of order intake, especially in the US.

• US sales surged 186% to €15.3 million, while European sales declined 43% to €10.9 million.

• Backlog at year-end was €21.9 million; total order intake fell 26% to €26.9 million due to base effect.

Financial highlights

• Gross margin rate declined to 31% from 35% in 2023, mainly due to lower-margin direct sales and turnkey projects.

• Operating loss widened to -€10.75 million from -€8.00 million year-over-year.

• Net loss increased to -€13.3 million from -€9.76 million year-over-year.

• Cash position at year-end was €22.6 million, up from €8.6 million in 2023.

Outlook and guidance

• Plans to accelerate direct sales deployment and maintain controlled cost structure in 2025.

• Initiatives to improve gross margin expected to yield results in 2025.