Lumibird (LBIRD) Q4 2024 TU earnings summary

Executive summary

• Annual sales reached €207.1m in 2024, up 1.7% year-over-year, with contrasting division performances.

• Medical division achieved record Q4 billings and strong annual growth, while Photonics division remained virtually flat.

• EBITDA margin for 2024 is expected to be close to 16%.

Financial highlights

• Full-year sales: €207.1m (+1.7% reported, +0.1% like-for-like).

• Medical division sales: €107.7m (+4.8% reported, +5.4% like-for-like); Q4 sales: €33.5m (+12.7%).

• Photonics division sales: €99.4m (-1.4% reported, -5.4% like-for-like); Q4 sales: €32.1m (-7.9%).

• Defence/Space sales up 20.3% to €45.3m; Medtech up 78.9% to €13.6m.

• Industrial & Scientific down 13.9% to €27.6m; ETS down 45.3% to €12.9m.

Outlook and guidance

• Management expects more profitable growth in coming years, targeting an average annual sales growth rate above 8%.

• EBITDA margin goal of 22% by 2026, up at least 500 basis points from 2023.

• Medical division momentum and Photonics reorganisation expected to drive future growth.