Otofarma (OTO) H2 2024 earnings summary

Executive summary

• FY24 revenue rose 36.8% to €13.842m; EBITDA increased 141.8% to €3.312m and net income reached €2.100m, up 178.2% YoY.

• Growth reflected a larger pharmacy network, higher demand for devices and services, tighter cost control, and improved margins from the S3 system.

Financial highlights

• Revenue €13.842m, up 36.8%; value of production €14.494m, up 38.7% YoY.

• Operating costs €11.307m, up 22.9%; services costs rose 22.3% to €7.247m and personnel costs rose 32.0% to €1.142m.

• EBITDA €3.312m, up 141.8%; EBIT €3.188m, up 155.0%; net income €2.100m versus €755k in FY23.

• Cash from operations was €2.236m; cash and cash equivalents ended FY24 at €2.231m, up from €736k.

Outlook and guidance

• Management expects continued growth, with a prudent approach, ongoing investment, and a focus on consolidating its competitive position; no numerical guidance was stated.

• FY24 commercial and organizational initiatives delivered expected revenue growth and improved profitability, supporting confidence in the strategy.