Catering International & Services (ALCIS) H1 2024 earnings summary

Executive summary

• Revenue grew 29.0% year-over-year to €199.5M (or 37.5% at constant currency), with all geographic zones contributing to growth.

• EBITDA increased 66.5% to €12.6M (reported) and 88% to €14.2M (constant currency), with margin improving to 6.3% from 4.9% a year earlier.

• Net consolidated income rose 33.1% to €2.6M (reported), and €3.5M at constant currency, despite negative currency impacts and higher minority interests.

• The group maintains a strong financial position with €65.4M in equity and €50.3M in cash as of June 30, 2024.

• Net income attributable to the group was €1.6M, down 24.4% year-over-year due to increased minority interests.

Financial highlights

• Revenue: €199.5M (reported), €212.5M at constant currency, up 29.0% and 37.5% year-over-year, respectively.

• EBITDA: €12.6M (reported), €14.2M at constant currency, up 66.5% and 88.0% year-over-year.

• Operating income: €7.1M, up 64.4% year-over-year.

• Net consolidated income: €2.6M, up 33.1% year-over-year.

• Shareholders' equity stood at €65.4M and cash at €50.3M as of June 30, 2024.

Outlook and guidance

• Management expresses confidence in continued organic growth for H2 2024, supported by an expanded service offering and recent commercial wins.

• The group remains open to external growth opportunities, both in France and internationally.