Global Dominion Access (DOM) Q2 2024 earnings summary

Executive summary

• Achieved €571.4M turnover in H1 2024, with 5% organic sales growth, aligning with strategic plan targets despite divestments and challenging market conditions.

• Strategic transformation focused on renewables, business simplification, and divesting less efficient activities.

• Operational profitability improved with strong margins, but net income declined due to higher financial expenses and increased debt.

• CEO highlights progress in margin improvement and business simplification despite increased investment requirements.

Financial highlights

• EBITDA was €71.3M, with a 12.5% margin, maintaining above 12% for the third consecutive quarter.

• EBIT increased 1% to €40.6M; EBIT margin rose to 7.1%.

• Net profit attributable was €16.3M, down 30% year-over-year, mainly due to higher financial expenses.

• Distributed €15M in dividends in July, yielding 3%.

Outlook and guidance

• Management expects a stronger H2 with project execution recovery, especially in renewables and infrastructure.

• 2024 is anticipated to align with the strategic plan, maintaining organic growth and operating profitability.

• Management remains confident in achieving the €150M EBITDA target for 2024, reaffirming 2024–2026 strategic plan targets.

• Organic growth in Sustainable Services exceeded guidance, reaching nearly 10% in Q2.