Tamtron Group (TAMTRON) H2 2024 earnings summary

Executive summary

• Revenue decreased by 4% year-over-year to €52.7 million due to lower system sales, but Onboard and Services segments reached record levels.

• Relative profitability improved, with EBITDA margin rising to 11.2% from 10.8% year-over-year.

• Strategic execution progressed as planned, including successful integration of an acquisition and expansion of digital services.

• Balance sheet strengthened, with equity ratio at 51.1% at year-end, up from 43.5%.

• No dividend proposed for 2024; profit allocated to retained earnings.

Financial highlights

• Full-year revenue: €52.7 million (down 4% year-over-year); H2 revenue: €27.9 million (down 10.9%).

• EBITDA: €5.9 million (down 0.3%); EBITDA margin: 11.2% (up from 10.8%).

• Operating profit: €2.3 million (down 5.6%); operating margin: 4.4%.

• Net profit: €0.6 million (down from €0.8 million); EPS: €0.08 (down from €0.11).

• Order backlog at year-end: €6.9 million (down from €9.4 million).

Outlook and guidance

• 2025 guidance: revenue expected to exceed €58 million and EBITDA to exceed €6 million.

• Largest deals in company history signed in early 2025, supporting growth expectations.

• Medium-term targets: €96 million revenue and 16% EBITDA margin by 2027.