Grenevia S.A. (GEA) H2 2024 earnings summary

Executive summary

• Revenue increased to PLN 1,869 million in 2024, with strong growth in E-mobility and Power Engineering segments.

• EBITDA reached PLN 510 million, with a margin of 27%; net profit was PLN 247 million, up from PLN 144 million in 2023.

• Net debt decreased to PLN 148 million, with a net debt/EBITDA ratio of 0.3x.

• Major strategic shift continued from mining machinery to green transition investments, including renewable energy and e-mobility.

Financial highlights

• Revenue: PLN 1,869 million (2024), up from PLN 1,618 million (2023).

• EBITDA: PLN 510 million (2024), up from PLN 415 million (2023).

• Net profit: PLN 247 million (2024), up from PLN 144 million (2023).

• Operating profit: PLN 256 million (2024), up from PLN 218 million (2023).

• Cash flows from operating activities: PLN 947 million (2024).

• Net profit attributable to owners: PLN 311 million (2024).

Outlook and guidance

• Continued focus on green transition, with capital-intensive investments in Renewable Energy and E-mobility expected to drive growth.

• Challenging market conditions anticipated in all segments, with pressure on margins and capital requirements.

• Strategic review and optimization of the Renewable Energy segment underway following minority buyout.