Rebl Group (REBL) Q2 2024 earnings summary

Executive summary

• Divested media business in April 2024, focusing on print, visibility, and digital segments.

• Q2 2024: Revenue up 3.9% to €31.0M; operating profit positive at €0.3M.

• H1 2024: Revenue down 1.5% to €58.5M; operating loss widened to €-1.6M.

• Media business sale generated a €9.9M one-time gain, boosting total net profit.

• Market environment remained uncertain, with weak demand for digital services.

Financial highlights

• Q2 EBITDA rose to €2.6M (from €1.3M); H1 EBITDA at €3.0M (vs €3.3M).

• Q2 net profit (incl. discontinued ops) €9.9M; H1 net profit (incl. discontinued ops) €7.8M.

• Q2 EPS (cont. ops) €-0.01; H1 EPS (cont. ops) €-0.19; H1 EPS (total) €0.62.

• Operating cash flow H1 €3.8M (vs €12.0M); net debt €41.8M (down from €49.2M).

• Equity ratio improved to 40.1% (from 33.1%).

Outlook and guidance

• 2024 revenue and operating profit from continuing operations expected to improve over 2023.

• Print demand seen slightly down, but visibility and digital segments expected to grow in H2.

• Guidance maintained; macroeconomic uncertainty and war in Ukraine remain key risks.