Cabasse (ALCAB) H2 2024 TU earnings summary

Executive summary

• Annual revenue for 2024 was €6.7 million, a 28% decrease year-over-year due to adverse economic conditions and delayed product launches.

• Consumption slowed both in France and internationally, with high distributor and retailer inventory levels.

• No major deliveries under the luxury brand partnership in Q4 2024, impacting the revenue base.

• Launch of THE PEARL MYUKI speaker began in Q4 2024, with ramp-up expected in H1 2025.

Financial highlights

• Revenue for 2024: €6.7 million, down from €9.3 million in 2023.

• Gross margin rate expected around 45%, compared to 45.5% in 2023.

Outlook and guidance

• Return to growth in 2025 depends on consumption trends, inventory management, and new product launches.

• Two major new products planned for 2025, expanding the Luxury Wireless Audio range.

• Full impact of 2024 cost reduction plan (€0.8 million annual savings) expected to support a return to positive EBITDA in 2025.