Hunyvers (ALHUN) Q3 2024 TU earnings summary

Executive summary

• Sales increased by 16.8% over nine months, reaching €91.2 million, with a 21.5% acceleration in Q3.

• Growth driven by both organic performance and acquisitions, especially in the nautical segment.

• Nautical segment now contributes nearly 10% of revenue, expected to exceed 20% after pending acquisitions.

Financial highlights

• Nine-month consolidated revenue rose to €91.2 million from €78.1 million year-over-year (+16.8%).

• Q3 revenue reached €39.9 million, up 21.5% year-over-year.

• VDL (leisure vehicles) sales up 6.8% to €81.8 million; nautical sales up 509.1% to €9.5 million.

• Organic growth was 0.9% overall, with VDL up 1.3% and nautical down 14.5% due to weather.

• Q3 VDL sales up 7.7% to €34.6 million; new vehicle sales up 23.1%, services up 15.7%.

Outlook and guidance

• Expects dynamic revenue growth and improved operating margin in H2 2023-2024.

• Targets over €170 million revenue and 6.5% operating margin for 2024-2025.

• Anticipates normalization of new VDL stock levels by 2024-2025, enabling a shift toward used vehicle sales.