Solocal Group (LOCAL) H2 2024 earnings summary

Executive summary

• Completed decisive financial restructuring, resulting in a solid balance sheet and positive net cash position at year-end.

• New governance established with a controlling shareholder and a refreshed executive committee.

• Launched a comprehensive action plan focused on sustainable, profitable growth and operational transformation.

Financial highlights

• Group revenue for 2024 was €334.5 million, down 7% year-over-year and 11% on a like-for-like basis.

• Recurring EBITDA was €44.4 million (13.3% margin), down from €63.5 million (17.6%) in 2023.

• Consolidated net income reached €119.9 million, a significant turnaround from a €45.9 million loss in 2023.

• Cash and cash equivalents rose to €70.9 million at year-end, with a positive net cash position of €26.6 million.

Outlook and guidance

• 2025 priorities include executing the transformation plan, stabilizing revenue, and integrating Regicom for a full year.

• Targeting restoration of EBITDA margin to around 15% through intensified cost control.

• Focus on revitalizing PagesJaunes and leveraging AI and data strategies for growth.