Lumibird (LBIRD) H2 2024 earnings summary

Executive summary

• Revenue grew 1.7% year-over-year to €207.1M, driven by strong H2 performance and robust Medical division growth.

• EBITDA margin reached 15.9% for the year, with a strong second half at 20.2%, but declined from 17.0% due to lower Photonic division profitability and increased amortization.

• Net income fell 20.1% to €5.7M, impacted by higher financial costs and increased amortization.

• Strategic investments included the acquisition of Continuum and expansion of US Medical operations.

Financial highlights

• Revenue: €207.1M (+1.7% year-over-year); EBITDA: €32.9M (-4.6%); Net income: €5.7M (-20.1%).

• Gross margin stable at 61.7%; Medical division margin improved by 1.5 points.

• Net financial debt stable at €89.9M; gearing at 45%; cash and cash equivalents €71.1M.

• EBITDA fell 4.6% to €32.9M; profit from recurring operations dropped 18.9% to €15.0M.

Outlook and guidance

• Continued growth expected in Defense/Space, ETS (Lidar), Scientific, and Medical segments, supported by recent investments and product launches.

• No formal financial targets for revenue or EBITDA margin provided.