Reworld Media (ALREW) Q4 2024 earnings summary

Executive summary

• Revenue reached €534.7M in 2024, down 2.7% year-over-year, with EBITDA margin at 10.1%.

• Adjusted net income rose 38.8% to €27.2M, driven by improved financial and exceptional results.

• BtoC segment showed resilience with stable profitability despite a 7.0% revenue decline; BtoB grew 0.8% amid a challenging H2 market.

• International operations now contribute nearly 35% of revenue, with strong digital and social media momentum.

• Maintained high digital audience (33.1M monthly unique visitors) and 83.5M social media followers (+4%).

Financial highlights

• EBITDA fell 9.3% to €53.8M; margin at 10.1% (vs. 10.8% in 2023), with H2 margin improvement (S1: 8.6%, S2: 11.5%).

• EBIT at €46.7M, down 8.1% year-over-year; net income group share nearly stable at €23.3M (-3.7%).

• Free cash flow more than doubled to €28.2M (vs. €11.3M in 2023); operating cash flow at €52.3M.

• Net financial debt reduced to €101.7M (from €120.3M), with net debt/EBITDA at 1.9x.

• Equity increased to €229.3M (from €218.9M); cash and equivalents stable at €86.7M.

Outlook and guidance

• Entering 2025 with confidence in business model resilience, execution capacity, and healthy financials.

• Plans to continue organic and external growth, leveraging digitalization and international expansion.

• Ongoing investments in social media, international media, and performance-based commercial offers.