Rebl Group (REBL) Q4 2024 earnings summary

Executive summary

• Divestment of media business completed in Q1 2024; focus now on print, visibility, and digital segments.

• Full-year revenue from continuing operations declined 1.9% year-over-year to €114.0 million.

• Operating result (EBIT) from continuing operations was -€1.2 million, down from -€0.9 million in 2023.

• Net result for continuing operations improved to -€2.9 million from -€3.7 million year-over-year.

• No dividend proposed for 2024.

Financial highlights

• Q4 revenue from continuing operations fell 3.9% to €30.5 million; EBITDA improved to €3.0 million (Q4 2023: €2.8 million).

• Full-year EBITDA from continuing operations was €7.8 million (2023: €8.1 million).

• Net cash flow from operations (including discontinued) was €6.4 million (2023: €12.4 million).

• EPS from continuing operations was -€0.23 (2023: -€0.31); including discontinued, EPS was €0.59 (2023: -€0.27).

• Sale of media business generated a €9.9 million gain.

Outlook and guidance

• 2025 revenue expected to remain at 2024 levels; operating result forecast to improve.

• Demand for visibility and digital services expected to grow, while print demand may decline slightly.

• Market environment remains uncertain, but management is more optimistic than in 2024.