IT Link (ALITL) H1 2024 earnings summary

Executive summary

• Revenue grew 11.6% year-over-year to €41.94M in H1 2024, driven by organic growth and the consolidation of Ciao.

• EBITDA increased 3.4% to €3.62M, with EBITDA margin at 8.6% of revenue.

• Operating income rose 2.6% to €2.92M, representing 7.0% of revenue.

• Net income declined 3.2% to €1.79M, impacted by a price adjustment related to RADès' outperformance.

Financial highlights

• Revenue: €41.94M (+11.6% year-over-year).

• EBITDA: €3.62M (+3.4% year-over-year), margin at 8.6% (-0.7 pts year-over-year).

• Operating income: €2.92M (+2.6% year-over-year), margin at 7.0% (-0.6 pts year-over-year).

• Net income: €1.79M (-3.2% year-over-year), after €0.87M in income tax and €0.09M in CVAE.

Outlook and guidance

• Management targets full-year 2024 revenue between €82M and €84M.

• Expects operating income above 7% of revenue for 2024.

• Remains vigilant regarding macroeconomic and geopolitical uncertainties.