Qualco Group (QLCO) H2 2023 earnings summary

Executive summary

• Revenue grew 14% year-over-year to €175m, driven by new customers, portfolio wins, and product launches.

• EBITDA reached €38.3m, up slightly from €37.8m in 2022, with margins expected to stabilize at 20–22%.

• Strategic acquisitions in AI, digital enablement, and expansion of service offerings supported growth and diversification.

• Continued investment in technology, international sales, and corporate shared services to drive sustainable growth.

Financial highlights

• Revenue: €174.95m in 2023 vs €152.66m in 2022 (+14%).

• Gross profit: €81.26m (2022: €70.82m).

• Operating profit: €29.52m (2022: €25.24m).

• Net profit: €18.80m (2022: €19.21m, including discontinued operations).

• EBITDA: €38.3m (2022: €37.8m).

• Cash and cash equivalents: €22.55m at year-end (2022: €19.28m).

• Dividend paid: €8.5m.

Outlook and guidance

• Expectation of further growth in 2024, driven by ongoing projects and expansion in fintech, property tech, and digital tech.

• Focus on international expansion, new product features, and recurring license fee model.

• Continued investment in digital transformation, automation, and data analytics.