Springvest (SPRING) Q3 2024 earnings summary

Executive summary

• Achieved record-breaking performance in the first nine months of 2024, with the largest financing rounds in company history and strong portfolio exit activity.

• Revenue (investment service income) reached €4.9 million, surpassing the full-year 2023 figure of €3.8 million.

• Operating profit was €1.5 million (up from €0.5 million in 2023), with a margin of 31%.

• Net profit for the period was €1.2 million, compared to €0.4 million in the previous year.

• Portfolio value increased by €4.4 million to €26.9 million (+21%), with 41 portfolio companies at period end.

Financial highlights

• Investment service income: €4.87 million (up 29% year-over-year).

• Operating profit: €1.49 million (margin 31%).

• Net profit: €1.19 million.

• Earnings per share: €0.21 (diluted €0.21), up from €0.06.

• Equity ratio: 80% (unchanged from 2023).

• Liquid assets: €3.0 million (up from €1.6 million at end of 2023).

• Portfolio company exits generated €0.4 million in net proceeds.

Outlook and guidance

• Expects significant revenue growth for full-year 2024, with operating margin to remain near long-term target of 20%.

• Continued investment in services and organization will weigh on profitability.

• Portfolio company IPOs, dividends, or share sales could further strengthen financial position.