Lectra (LSS) AGM 2025 summary

Opening remarks and agenda

• Meeting held on April 25, 2025, at Lectra Headquarters in Paris, broadcast in French and English, with formal opening and introduction of key speakers including the Chairman, CFO, General Secretary, and Statutory Auditors.

• Agenda covered 2024 results, climate strategy, Q&A, auditor reports, voting on resolutions, and closure.

• Quorum exceeded 90%, with all formalities and documentation completed on time.

• No additional resolutions or written questions were received from shareholders.

Financial performance review

• 2024 results aligned with guidance and estimates; revenue up 10%, gross margin up 13%, EBITDA up 15%.

• SaaS subscription orders rose 8%–26%, with recurring contracts now 70% of revenues and recurring revenues up 7%.

• Asia-Pacific drove growth (+32%), while Europe and Americas improved in H2 but ended at -16% and -12% respectively; new system orders stable overall.

• Launchmetrics acquisition contributed €7M EBITDA; free cash flow before non-recurring items reached €72.1M, up from €45.3M in 2023.

• Net debt at €20.6M after Launchmetrics payment; 2025 outlook targets recurring revenues of €400M (SaaS €90M), EBITDA margin around 20%, and total revenues between €550M and €600M amid ongoing macroeconomic uncertainty.

Board and executive committee updates

• Executive Committee strengthened with Antonella Capelli (Europe/EMEA) and Michaël Jaïs (Launchmetrics CEO) joining.

• Reappointment of Céline Abecassis-Moedas as Director and Chairwoman of the Compensation Committee.