Derichebourg (DBG) H2 23/24 earnings summary

Executive summary

• Revenue remained stable at €3.6 billion despite adverse market conditions, including geopolitical risks, sector weakness, high electricity prices, and a significant cyber attack impacting results for several months.

• Strategic diversification into niche and technical businesses now contributes 36% of EBITDA, supporting resilience and differentiation.

• Maintained EBITDA at €330 million, with nearly €100 million in free cash flow generated.

Financial highlights

• Net income attributable to shareholders fell 45% to €74.8 million, mainly due to higher finance costs and fewer non-recurring gains.

• Recurring EBITDA was €330 million (9.2% margin), down 1.4% year-over-year.

• Free cash flow close to €100 million; proposed dividend of €0.13 per share, yielding close to 3%.

• Net financial debt reduced to €713.7 million from €772.7 million.

Outlook and guidance

• 2025 EBITDA guidance set at a minimum of €350 million, with confidence in long-term demand for scrap metals due to decarbonization and electrification trends.

• CapEx to be capped at €175 million; free cash flow expected to remain significant as interest rates fall.

• Ramp-up of new sorting lines and expected lower interest rates to support results.