Sidetrade (ALBFR) H1 2024 earnings summary

Executive summary

• Turnover grew 19% year-over-year to €24.8m in H1 2024, with SaaS subscriptions up 18%.

• Net profit surged 64% to €3.6m, reflecting strong operational leverage.

• US revenue grew 40% to €7.9m, now 32% of total, and 60% of turnover from international sales.

• Acquisition of SHS Viveon AG strengthens position in the DACH region and expanded the group.

• Achieved record half-year bookings with €7.42m in new ACV, up 25% year-over-year.

Financial highlights

• H1 2024 turnover/revenue: €24.8m (+19% year-over-year).

• SaaS subscriptions: €20.5m (+18% year-over-year).

• Operating margin: €3.6m (15% of turnover/revenue, up from 12%).

• Net income/profit: €3.6m (up from €2.2m, +64% year-over-year).

• Gross margin: 80% of turnover/revenue (92% for SaaS), incremental increase of €3.0m.

Outlook and guidance

• US and DACH regions expected to remain key growth drivers, leveraging SHS Viveon AG acquisition.

• Multinational subscriptions (ARR > €250k) now 47% of total, expected to drive future growth.

• All multi-year contracts indexed to inflation, supporting recurring revenue.

• Committed to Fusion 100 strategic plan, targeting $100m revenue by end of 2026.

• SHS Viveon AG activities to be consolidated from July 2024.