Singular People (SNG) H2 2024 earnings summary

Executive summary

• Revenue grew 6% year-over-year to €106.9M, driven by strong performance in core technology consulting and international expansion.

• EBITDA reached €12.0M (11.2% margin), down from €13.2M (13.1%) in 2023, mainly due to lower recruiting profitability and investments in new business units.

• Net income was €5.5M, compared to €7.3M in 2023, reflecting higher amortization and restructuring costs.

• The group completed several strategic acquisitions, including TecnoFor, Circular Talent, Navandú, and Revista Emprendedores, strengthening its portfolio and sector diversification.

• Sngular maintained a high client retention rate, with 90% of revenue from existing clients and an NPS of 84 for large accounts.

Financial highlights

• Revenue: €106.9M (+6% year-over-year).

• EBITDA: €12.0M (11.2% margin), down from €13.2M (13.1%) in 2023.

• Net income: €5.5M, down from €7.3M in 2023.

• Operating cash flow: €7.4M, with €12M invested in acquisitions.

• Net debt: €10.8M (0.9x EBITDA), up from €7.1M in 2023.

• Dividend proposed: €1.6M (0.03€/share, 29% payout).

Outlook and guidance

• Management anticipates above-market average annual growth and progressive margin improvement over the next three years.

• Focus on integrating recent acquisitions, expanding in the US and LatAm, and leveraging AI and deep tech for higher value-added projects.

• Strategic shift towards a higher mix of managed services, products, and sector-specific solutions.