BOA Concept (ALBOA) H1 2024 earnings summary

Executive summary

• Revenue for H1 2024 was €4.2M, down from €9.0M in H1 2023, reflecting a challenging economic environment.

• EBITDA for H1 2024 was -€1.1M, compared to €1.1M in H1 2023; net result was -€0.7M versus €0.9M in H1 2023.

• Maintained strong cash position at €9.6M as of June 30, 2024.

• Continued investment in R&D and innovation, including new automation solutions and software development.

• Acquisition of a majority stake in Easy Systems Benelux in April 2024, enhancing international presence.

Financial highlights

• Total operating income for H1 2024 was €5.04M; operating income (ROC) was -€1.2M.

• Bank debt reached €7.23M; trade payables were €1.12M.

• R&D capitalization for new developments amounted to €411k.

• Operating expenses and personnel costs reduced in line with lower activity.

Outlook and guidance

• Management anticipates a recovery in H2 2024, supported by new product launches, contract wins, and geographic expansion, including a planned subsidiary in Quebec and a contract in Côte d'Ivoire.

• Ongoing external growth strategy, with further acquisition opportunities under review.