Robertet (RBT) H2 2024 earnings summary

Executive summary

• Achieved 12% reported and 10.3% organic sales growth in 2024, with all divisions and regions contributing and outperforming recent averages.

• Major CapEx investments increased production capacity, especially in Asia and Latin America, and included targeted acquisitions such as Sonarome (India) and Phasex (U.S.).

• Integration of Sonarome expanded presence in India; Phasex acquisition enhanced U.S. CO2 extraction capabilities.

• EcoVadis Platinum Award received, placing the group in the top 1% for sustainability.

• Net income attributable to owners rose 20.7% to €90.1 million, reflecting improved profitability and lower debt servicing costs.

Financial highlights

• Revenue rose from €720 million in 2023 to €808 million in 2024, a 12% increase; 2.4% of growth from acquisitions.

• EBITDA increased 18.1% to €157.1 million (19.4% margin), up 100 bps year-over-year.

• Net income grew from €76 million to €90 million, with net margin rising from 10.3% to 11.2%.

• Free cash flow surged to €74 million, supported by EBITDA growth and working capital efficiency.

• Dividend proposed at €10/share, up from €8.50/share.

Outlook and guidance

• Q1 2025 sales up 5.5% (4.7% at constant FX/scope), signaling a return to normalized growth after an exceptional 2024.

• 2025 expected to be a year of consolidation, with cautious optimism amid ongoing cost and tariff pressures.

• Long-term ambition to exceed €1bn in sales by 2030 and progressively expand EBITDA margin, aiming to exceed 20%.