EL.En. (ELN) Q4 2024 earnings summary

Executive summary

• 2024 revenues declined 1.8% year-over-year to €565.8M, with net income up 7% to €51.6M and stable EBIT at €78.3M.

• Medical segment revenues grew 4.6% to €410.4M, offsetting a 15.3% decline in the industrial segment to €155.4M.

• Gross margin improved to 43.4% from 40.8%, driven by higher-margin medical sales.

• Net financial position strengthened to €110.6M, up from €59.9M at year start.

• Notable product launches, art conservation initiatives, and European distribution expansion contributed to diversification.

Financial highlights

• EBITDA was €91.8M (16.2% margin), nearly flat year-over-year.

• EBIT reached €78.3M (13.8% margin), stable compared to €78.2M in 2023.

• Net income from continuing operations was €62.9M, up 13.8% year-over-year.

• Net result from discontinued operations (mainly Penta Laser Zhejiang) was a loss of €10.4M.

• Net equity rose 9.4% to €410.8M.

Outlook and guidance

• 2025 guidance anticipates slight revenue growth, with EBIT projected to remain flat year-over-year.

• Medical revenues will be impacted by the exit of the Japanese subsidiary and reduced sales to Cynosure.

• Early 2025 sales and orders are in line with expectations, though U.S. market is slightly weaker.

• Forecasts do not include potential US tariffs, which could impact revenue and profitability.