Topicus (TOI) Q2 2024 earnings summary

Executive summary

• Q2 2024 revenue rose 14% year-over-year to €311.2 million, with 4% organic growth.

• Net income increased 15% to €26.9 million (€0.21 diluted EPS) compared to Q2 2023.

• Acquisitions totaled €16.6 million in consideration, including deferred payments.

• Cash flows from operations improved to €8.8 million from negative €15.4 million in Q2 2023.

• Free cash flow available to shareholders (FCFA2S) was negative €3.8 million, up from negative €16.6 million last year.

Financial highlights

• Six-month revenue reached €617.8 million, up 15% year-over-year.

• Six-month net income was €55.2 million, up €10.7 million from the prior year.

• Six-month FCFA2S increased to €130.1 million from €84.5 million, a 54% rise.

• Cash at June 30, 2024 was €233.7 million, up from €172.3 million a year earlier.

• Staff expenses for Q2 were €177.5 million, up from €155.8 million in Q2 2023.

Outlook and guidance

• Forward-looking statements caution significant risks and uncertainties may impact future results.

• No guarantees of future performance; actual results may differ materially from projections.