ELES Semiconductor Equipment (ELES) H2 2024 earnings summary

Executive summary

• Achieved significant improvement in all economic and financial indicators for FY 2024, with revenues up 8.9% year-over-year and EBITDA margin rising to 16.8%.

• Net profit increased by 55.5% year-over-year, supported by strong operating cash flow and a shift to a net cash position.

• Expanded internationally, entering the Indian market and consolidating presence in the US, with strategic partnerships and new customer acquisitions.

• Continued focus on innovation, with two patent applications filed and new R&D collaborations.

Financial highlights

• Sales revenue reached €35.7 million, up 8.9% compared to 2023.

• Consolidated EBITDA was €6.0 million (+18.9% YoY), with an EBITDA margin of 16.8%.

• Net profit totaled €1.24 million, a 55.5% increase year-over-year.

• Net financial position improved from €3.7 million net debt to €1.4 million net cash.

• Shareholders’ equity stood at €27.8 million at year-end.

Outlook and guidance

• Anticipates continued growth in 2025, especially in AI, high-performance computing, and data server sectors, despite expected quarterly fluctuations.

• Strategic plan for 2025–2027 targets increased profitability and volume growth, focusing on production efficiency, internationalization, and M&A opportunities.

• Market outlook remains positive, with global semiconductor revenues expected to reach $627 billion in 2024 and $1 trillion by 2030.