Delticom (DEX) Q3 2024 earnings summary

Executive summary

• 9M revenue rose 8.0% YoY to €318.9m, while net result moved to a €1.5m loss from €1.3m profit.

• Established in 1999, the business remains owner-driven with 48% equity held by founders; stated focus is profitable, long-term growth.

Financial highlights

• 9M gross profit increased 7.3% to €96.4m; gross margin on revenue rose to 26.3% from 22.6%, mainly on sales mix and the new pricing tool.

• Reported 9M EBITDA declined 8.9% to €8.6m from €9.4m; operative EBITDA rose to €10.6m from €10.2m excluding refinancing and Hanover relocation one-offs.

• 9M personnel expenses fell 5.2% to €9.9m; other operating expenses rose 11.4% to €78.0m.

• 9M net result was -€1.5m, versus €1.3m profit in 9M 2023.

Outlook and guidance

• FY 2024 revenue guidance: €450–470m; operative EBITDA guidance: €19–21m.

• Winter season is a key factor for H2 2024 performance.