STIF (ALSTI) H2 2024 earnings summary

Executive summary

• Achieved record revenue of €61.2M in 2024, up 72.7% year-over-year, driven by major commercial wins with leading BESS players and expansion in North America and China.

• All profitability indicators improved, with EBITDA up 235% to €15.7M (25.6% margin) and net income Group share up 384% to €9.7M.

• Launched new products, expanded industrial footprint with a new Texas plant, increased production capacity in China, and added 48 new hires.

• Completed strategic financial operations, including minority buyouts, new financing, capital restructuring, and a 10.4% capital sale via ABB at €21/share.

• Reinforced leadership in the global energy storage protection market and secured contracts with major BESS players such as Tesla, Sungrow, Nidec, and Fluence.

Financial highlights

• Revenue rose to €61.2M (+72.7% YoY), with 87% generated outside France.

• EBITDA reached €15.7M (+235% YoY, 25.6% margin); operating income was €13.4M (+325% YoY).

• Net income Group share surged 384% to €9.7M; gross margin improved to 64.6% of sales from 58.5%.

• Explosion Energy/BESS segment revenue grew to €29.3M from €4.5M in 2023.

• Available cash increased to €16.6M (from €7.8M); equity rose to €23.4M (from €15.2M).

Outlook and guidance

• 2025 revenue expected to grow by 20%, with EBITDA margin to remain above 20% as a new norm.

• Targeting €80M revenue before 2027, with updated strategic roadmap to be communicated in October 2025.

• Focus on further product diversification, geographical expansion, and innovation, especially in Asia.