OSAI Automation System (OSA) H2 2024 earnings summary

Executive summary

• FY 2024 saw a 20% drop in value of production and a 19% decline in revenues year-over-year, driven by production and procurement issues, market slowdowns, and order postponements.

• Operating result was negative at €7.61 million, with a 24% deeper loss than FY23, reflecting structural industrial imbalances and lower margins.

• The company entered a negotiated crisis settlement procedure in January 2025, with a recovery plan extending to 2029, aiming for business continuity.

• Workforce was reduced from 250 to 222 employees, and personnel costs fell by 10% year-over-year.

Financial highlights

• Value of production: €34.76M (down from €43.57M in 2023).

• Revenues: €30.61M (down from €37.72M in 2023).

• EBITDA: -€4.84M (vs. -€1.67M in 2023); EBITDA margin: -13.91% (vs. -3.84%).

• EBIT: -€8.01M (vs. -€4.88M in 2023).

• Net income: -€7.61M (vs. -€6.16M in 2023).

• Net financial debt: €37.09M (vs. €37.46M in 2023).

• Gross margin: €16.57M (down 28% year-over-year).

Outlook and guidance

• Order intake fell 11% year-over-year, with a sharp drop in the first half of 2024 but signs of recovery in the second half.

• The 2025-2029 business plan focuses on operational recovery, debt restructuring, and targeting high-tech sectors.

• Business continuity is contingent on successful creditor agreements and execution of the recovery plan.