Obiz (ALBIZ) H2 2024 earnings summary

Executive summary

• Achieved strong revenue growth in 2024, with sales up 51% year-over-year to €125.9M, meeting the annual target and driven by both organic expansion and acquisitions.

• Growth fueled by relational/affinity programs (+24%) and e-commerce boutiques (+115%), with international presence expanded to over 65 countries.

• Integrated HA PLUS PME and Ski Loisirs Diffusion, enhancing the group's offer and cross-selling potential.

• Expanded partner network from 45,500 to 55,000 in one year and reinforced leadership in client and employee loyalty solutions.

Financial highlights

• Revenue rose from €83.1M in 2023 to €125.9M in 2024 (+51%).

• Gross margin increased 44% to €15.9M, with a gross margin rate of 12.7% (down from 13.3%).

• EBITDA declined to €1.6M (margin 1.2%), impacted by higher personnel and external charges due to acquisitions.

• Net result turned negative at -€2.6M, affected by exceptional items and increased amortization.

• Cash position at year-end: €5.3M, down from €9.7M.

Outlook and guidance

• Strategic roadmap "Equinoxe 2027" targets €7M EBITDA by 2027, focusing on operational efficiency, cash flow generation, and debt reduction.

• Plans to sign over 150 new loyalty programs and further international expansion.

• Investments in technology and organizational changes to drive efficiency.