Solocal Group (LOCAL) Q3 2024 TU earnings summary

Executive summary

• Q3 2024 revenue was €83.8 million, down 10.7% year-over-year on a like-for-like basis, with Regicom contributing €6.1 million for two months.

• 9M 2024 revenue reached €247.6 million, a decrease of 11.5% year-over-year on a like-for-like basis.

• Weak sales performance and customer attrition contributed to revenue decline.

Financial highlights

• Q3 2024 revenue: €83.8 million; 9M 2024 revenue: €247.6 million.

• Order backlog at €182.8 million as of 30 September 2024, slightly up from €181.5 million at 30 June 2024.

• Group ARPA at €1,320 as of 30 September 2024, up from €1,300 at 30 June 2024.

Outlook and guidance

• 2024 secured revenue expected at €305 million on a like-for-like basis.

• Full-year 2024 revenue could reach approximately €340 million, including Regicom.

• EBITDA margin for 2024 projected at 15% due to ongoing cost control.