LACROIX Group (LACR) H1 2024 earnings summary

Executive summary

• Revenue for H1 2024 was €350.3m, down 7% year-over-year, reflecting lower sales and divestitures in Electronics and Environment activities.

• Group net loss reached €16.9m, compared to a profit of €4.6m in H1 2023, impacted by impairment, discontinued operations, and non-recurring items; another source reports net loss at €13.3m.

• The City-Mobility segment was reclassified as discontinued following a planned divestiture.

• Adjusted EBITDA for continuing operations was €18.3m, down from €23.6m in H1 2023.

Financial highlights

• Operating profit fell to €4.5m from €11.5m year-over-year, mainly due to non-recurring charges.

• Net debt increased to €124.8m, with gearing at 72.9%–73%.

• Free cash flow remained positive at €0.9m, supported by controlled working capital and capex.

• Basic EPS was negative at €(2.84), compared to €1.20 in H1 2023.

• Capital loss of €3.0m on Road Sign BU sale and €10.0m impairment/write-down on City-Mobility segment.

Outlook and guidance

• Full-year 2024 revenue expected around €640m, reflecting new scope; EBITDA margin guidance revised down to 4.0–4.5%.

• Focus on core markets with higher growth and positive impact, following divestments.

• City-Mobility segment disposal expected within 12 months; impairment may be revised at year-end.

• Environment segment expected to maintain positive momentum, while Electronics faces limited visibility and North American restructuring.

• New 2025–2027 roadmap to be unveiled in spring 2025.