Global Dominion Access (DOM) Q4 2024 earnings summary

Executive summary

• 2024 marked a transformation year with a focus on recurrence, simplification, and sustainability, including divestments of non-strategic activities and the launch of Global Dominion Environment (GDE) to drive sustainable growth and profitability.

• Recurrent and sustainable services now represent over 70% of sales and 60% of contribution margin, driving growth and profitability.

• Major divestitures, such as the sale of multi-technical services in Spain, sharpened focus on core sustainable activities.

• GDE was launched to consolidate sustainable industrial transition activities, targeting €500M turnover and over €50M EBITDA by 2025.

Financial highlights

• Consolidated turnover was €1,153M, down 3% year-over-year due to divestments, but organic sales grew 2%.

• EBITDA rose 4% to €150.7M, with margin reaching a record 13.1%; EBIT increased 7% to €84.3M.

• Contribution margin improved by 3% year-over-year despite divestitures.

• Comparable net income fell 12% to €40.1M, mainly due to higher financial expenses and taxes; attributable net income dropped 30% to €31.2M.

• Operating cash flow generation was over €76M.

Outlook and guidance

• 2025 focus on consolidating organic growth, expanding environmental business (GDE), and executing planned divestments.

• GDE expected to reach €500M in revenues and over €50M in EBITDA in 2025.

• Strategic Plan targets >5% CAGR in sales, >7% CAGR in EBITDA, and >9% CAGR in operating cash flow for 2025-2026.

• RONA projected to exceed 20%, with net debt targeted to reach zero by end of plan.

• Dividend proposal of €15M for 2025, exceeding 1/3 of attributable profit.