Bilendi (ALBLD) H1 2024 earnings summary

Executive summary

• Revenues grew 3.6% year-over-year to €30.6m in H1 2024, with strong international performance and innovation in AI-driven market research solutions.

• EBITDA surged 58% to €5.7m, with margin reaching an all-time H1 high of 18.7% due to higher business volume and strict cost control.

• Adjusted net income rose 5.6-fold to €1.9m, reflecting improved profitability and operational efficiency.

Financial highlights

• Revenues: €30.6m (+3.6% year-over-year); France up 4.7%, international up 3.3%.

• EBITDA: €5.7m (+58%), margin at 18.7% of revenues (+6.5 pts year-over-year).

• Adjusted operating profit: €2.8m (+198.6%), margin at 9.1% of revenues.

• Adjusted net income: €1.9m (+462.9%).

• Cash flow from operations: €4.2m, more than triple H1 2023.

Outlook and guidance

• 2026 targets reaffirmed: €100m revenues and EBITDA margin of 20–25% (€20–25m EBITDA).

• Continued focus on organic growth and targeted acquisitions to drive expansion.