SEMCO Technologies (ALSEM) H2 2024 earnings summary

Executive summary

• Focused exclusively on high-value electrostatic chucks (eChucks) for the semiconductor industry since May 2024, following the divestiture of its gas components business.

• Achieved €26.4M pro forma revenue in 2024, with 100% export sales and a strong presence in Asia (50%), America (40%), and Europe (10%).

• Maintains a premium market position as the only pure player in eChucks, serving leading global equipment manufacturers.

• Underwent significant investments in automation and capacity expansion, with a new automated production line and international assembly units planned.

Financial highlights

• 2024 pro forma revenue: €26.4M (+4.9% year-over-year on a comparable basis).

• EBIT pro forma: €9.7M (36.8% margin), EBITDA pro forma: €10.1M (38.3% margin).

• Net income pro forma: €6.94M (stable year-over-year).

• Gross margin pro forma: 65.3% (down 2.1 pts year-over-year due to strategic investments and temporary margin dilution).

• 2024 consolidated revenue: €32.0M (down 5.4% due to gas business divestiture), EBIT margin: 29.3%.

• Cash flow from operations: €14.4M (+169% year-over-year), net debt: €2.47M.

Outlook and guidance

• 2025 revenue forecast: ~€33M (+25% vs. 2024 pro forma), EBIT margin target: ~38.5%.

• 2028 target: revenue >€55M, EBIT margin >40%, driven by capacity expansion and new client qualifications.

• Dividend policy: intends to distribute >30% of net income annually (2025–2028).