R&S Group (RSGN) H2 2024 earnings summary

Executive summary

• Achieved record financial results in 2024, with net sales up 30% to CHF 282.6 million and EBIT up 119% to CHF 62.7 million year-over-year, driven by strong demand and the acquisition of Kyte Powertech.

• Successfully integrated Kyte Powertech, expanding into new markets (Ireland, UK, Benelux, France) and nearly doubling annualized revenues.

• Raised CHF 75 million in equity through full conversion of redeemable warrants, strengthening the balance sheet and increasing free float.

• Proposed dividend of CHF 0.50 per share, reflecting strong results and commitment to shareholder returns.

Financial highlights

• Net sales rose 30% to CHF 282.6 million compared to CHF 216.9 million in 2023.

• EBIT increased to CHF 62.7 million (22.2% margin), with adjusted EBIT at CHF 65.1 million (23.0% margin).

• Profit after tax reached CHF 41.2 million, up from CHF 11.6 million in 2023.

• Adjusted free cash flow was CHF 44.9 million (15.9% margin), exceeding targets.

• Order intake hit CHF 305.5 million (+15%), and order backlog reached CHF 278.0 million (+50%).

• Earnings per share rose to CHF 1.31 (basic), up from CHF 0.40.

Outlook and guidance

• Mid-term guidance: net sales growth of 10–13% and EBIT margin around 20%.

• Free cash flow margin expected at 10–12% of net sales; stable dividend payout of CHF 0.50 per share until 2026.

• Confident in leveraging Kyte integration, capacity expansions, and market trends in decarbonization and grid modernization.