Burkhalter (BRKN) H1 2024 earnings summary

Executive summary

• First half of 2024 closed with strong results; EPS up 7.4% year-over-year to CHF 2.19.

• Net income reached CHF 23.3 million, up from CHF 21.2 million in H1 2023.

• EBIT increased to CHF 28.2 million from CHF 26.0 million year-over-year.

• Revenue rose to CHF 567.6 million, compared to CHF 526.2 million in H1 2023.

• High demand for building technology services continues to drive growth.

Financial highlights

• EBITDA for H1 2024 was CHF 32.9 million, up from CHF 29.9 million year-over-year.

• Gross margin improved, with operating income (EBIT) at CHF 28.2 million.

• Cash flow from operations was CHF 24.4 million, a significant improvement from negative CHF 0.7 million in H1 2023.

• Dividend of CHF 4.45 per share paid, totaling CHF 47.2 million.

• Cash and cash equivalents at period end were CHF 36.9 million, down from CHF 54.3 million at year-end 2023.

Outlook and guidance

• Management expects moderate EPS growth for full-year 2024, contingent on sustained demand for building technology and energy-efficient solutions.

• Company well positioned to contribute to Switzerland's Energy Strategy 2050.