LapWall (LAPWALL) Q3 2024 earnings summary

Executive summary

• Revenue grew 6.9% to €11.7 million in Q3 2024 compared to Q3 2023, with EBITA up 65.5% to €1.7 million and EBIT up 84.3% to €1.4 million.

• Nine-month revenue increased 10.1% year-over-year to €32.8 million, with EBITA up 29.3% to €3.8 million and EBIT up 28.5% to €3.1 million.

• Strong performance attributed to effective strategy, efficient production, and project management despite a challenging market.

Financial highlights

• Q3 EBITDA was €2.0 million (17.0% margin), up 48.4% year-over-year; nine-month EBITDA was €4.8 million (14.5% margin), up 21.5%.

• Q3 EBITA margin improved to 14.3% from 9.2% last year; nine-month EBITA margin rose to 11.6% from 9.9%.

• Q3 EBIT margin increased to 12.4% from 7.2%; nine-month EBIT margin rose to 9.5% from 8.2%.

• Order backlog at the end of Q3 was €15.2 million, down 27.2% year-over-year.

Outlook and guidance

• Updated 2024 guidance: revenue expected at €43–44.5 million and EBITA at €4.9–5.2 million, reflecting improved profitability.

• Previous guidance was revenue €43–48 million and EBITA €4.3–4.8 million.

• Market recovery anticipated in 2025, with construction activity expected to grow and factory expansion to meet rising demand.