OSAI Automation System (OSA) H2 2024 earnings summary

Executive summary

• Value of production fell 20% year-over-year to €34.76M, and revenues declined 19% to €30.61M, reflecting technical and procurement issues, order delays, and a general market downturn.

• Net loss widened to €7.61M (vs. €6.16M in 2023), with negative EBITDA of €-4.84M and EBIT of €-8.01M, as margins were hit by lower volumes and less efficient orders.

• The company initiated a negotiated crisis settlement procedure in January 2025, with a restructuring plan for 2025–2029 based on business continuity.

• Workforce reduced from 250 to 222, with personnel costs down 10% year-over-year.

Financial highlights

• EBITDA margin dropped to -13.91% (from -3.84% in 2023); gross margin fell 28% to €16.57M.

• Net financial debt remained high at €37.09M (vs. €37.46M in 2023), with increased short-term exposure and low liquidity.

• Working capital decreased to €11.96M (from €25.85M), mainly due to lower receivables and advances.

• R&D investment was €3.38M, with €2.98M capitalized.

Outlook and guidance

• The 2025–2029 plan aims to restore financial balance and operational efficiency, contingent on successful creditor agreements.

• Ongoing market uncertainty, especially in semiconductors and e-mobility, clouds the near-term outlook.