Tamtron Group (TAMTRON) H1 2024 earnings summary

Executive summary

• Achieved record-high revenue and EBITDA for H1 2024, with 5.2% revenue growth year-over-year to €24.8 million and EBITDA up 13% to €2.9 million.

• Onboard and Digital services segments showed strong growth, while Industrial Weighing faced delays in customer investments, especially in battery industry projects.

• Maintained profitability despite inflationary pressures and challenging market conditions, supported by a resilient business model and diversified customer base.

• Continued strategic focus on organic growth, international expansion, and potential acquisitions.

Financial highlights

• Revenue: €24.8 million, up 5.2% from H1 2023 (€23.6 million).

• Operating profit: €1.16 million (4.7% margin), up 20.9% year-over-year.

• Adjusted operating profit (excluding goodwill amortization): €2.22 million (8.9% margin).

• EBITDA: €2.9 million (11.7% margin), up from €2.56 million (10.9%) in H1 2023.

• Net profit: €0.59 million, up from €0.37 million in H1 2023.

• Equity ratio: 48.5% at period end, up from 43.9% a year earlier.

• EPS: €0.08 (H1 2023: €0.05).

Outlook and guidance

• 2024 revenue guidance narrowed to €54–56 million (previously €54–60 million), with EBITDA margin expected to remain stable at 10–13%.

• Uncertainty remains regarding timing and realization of large system deliveries.

• Long-term targets: €96 million revenue and 16% EBITDA margin by 2027, with digital services to reach 10% of revenue.