Indel B (INDB) H2 2024 earnings summary

Executive summary

• FY 2024 revenues fell 10.2% year-over-year to €203.5 million, reflecting declines across most markets, especially Automotive and Leisure.

• Adjusted EBITDA dropped 19.7% to €22.7 million; adjusted EBIT down 21.2% to €16.4 million.

• Adjusted net profit decreased 23.5% to €11.6 million; reported net profit rose slightly to €10.8 million.

• Proposed dividend of €0.80 per share, totaling up to €4.8 million, with ex-dividend date on 2 June 2025.

• Board proposes new treasury share buyback authorization and updates to governance and internal dealing procedures.

Financial highlights

• Consolidated revenues: €203.5M (2024) vs €226.5M (2023), -10.2% year-over-year.

• Adjusted EBITDA: €22.7M (2024) vs €28.3M (2023), -19.7%; EBITDA margin 10.7% (flat year-over-year).

• Adjusted EBIT: €16.4M (2024) vs €20.8M (2023), -21.2%; EBIT margin 7.5% (2024) vs 7.1% (2023).

• Adjusted net profit: €11.6M (2024) vs €15.2M (2023), -23.5%; reported net profit: €10.8M (2024) vs €10.6M (2023), +1.8%.

• Net financial position: -€10.3M (2024) vs -€7.5M (2023), reflecting higher inventories and treasury share buyback.

Outlook and guidance

• 2025 expected to be complex due to global uncertainties, new US tariffs, and geopolitical tensions.

• Medium- to long-term outlook remains positive, with focus on Automotive, Hospitality, and Cooling Appliances.

• Group aims to maintain financial strength, revenues, and margins through ongoing monitoring and adaptation.