Singular People (SNG) H2 2024 earnings summary

Executive summary

• Achieved annual sales of €106.9M in 2024, up 6% year-over-year, with continued international expansion and a diversified client base across 18 countries.

• EBITDA reached €12.0M (excluding extraordinary items), with a consolidated margin of 11.24% (11.3% margin reported elsewhere), down from €13.2M (13.0%) in 2023, mainly due to lower recruiting profitability and integration of new acquisitions.

• Net profit attributable to equity holders was €5.5M, compared to €7.3M in 2023.

• Strategic acquisitions and investments in 2024 focused on complementary products, platforms, and communities, expanding business lines and geographic reach.

• Maintained high client satisfaction (NPS 84 for large clients) and strong recurring revenue (80% from repeat clients).

Financial highlights

• Annual revenue grew to €106.9M in 2024, up from €101M in 2023.

• EBITDA (excluding extraordinary items) was €12.0M, with a margin of 11.24% for the group and 13.55% for the consulting unit.

• Net profit: €5.5M vs €7.3M in 2023.

• Net debt stood at €10.8M (0.9x EBITDA), with €7.4M generated in operating cash flow.

• Dividend of €2.1M paid in June 2024 for 2023 results; proposed 2024 dividend of €1.6M (payout 29%).

Outlook and guidance

• Anticipates above-market average annual growth and progressive margin improvement over the next three years, driven by AI adoption and productivity gains.

• Forecasts robust growth in 2025, with improved EBITDA margin as recent acquisitions are integrated.

• Strategic focus on high-value, innovation-driven projects and managed services, with selective M&A for complementary capabilities.

• Continued international expansion, especially in the USA, Mexico, LATAM, and new markets like Saudi Arabia.

• Plans to invest in new business models, proprietary products, and joint ventures.