Mare (MARE) H2 2024 earnings summary

Executive summary

• Achieved all 2024 guidance targets, with strong growth in margins and operational efficiency.

• Completed development of proprietary technology platforms, now fully operational across sectors.

• Initiated a new phase of expansion, including external growth operations to strengthen strategic market positioning.

Financial highlights

• Production value reached €44.6 million, up 13.1% year-over-year from €39.4 million in 2023, entirely organic growth.

• Adjusted EBITDA rose 24.5% to €13.2 million from €10.6 million, excluding €3 million in non-recurring charges and €1 million in extraordinary income.

• Adjusted net financial position improved to a debt of €1.3 million from €24.7 million at end-2023, reflecting business improvements and capital raises.

Outlook and guidance

• Ambition to surpass €100 million in revenue and further consolidate leadership in digital engineering.

• 2025 began with the acquisition of La SIA and launch of the first OPAS on EGM, accelerating growth and market positioning.

• Ongoing integration of Powerflex and La SIA, with additional acquisitions under evaluation to expand the group.