Younited Financial (YOUNI) H2 2024 earnings summary

Executive summary

• Achieved Euronext Paris and Amsterdam listing in January 2025, marking a shift to a full-spectrum financial platform.

• Completed a strategic merger with Iris Financial S.A., raising €152–153 million in growth capital and transitioning to a balance-sheet funding model.

• 2024 GMV reached €1,015 million, with 49–50% from outside France, reflecting pan-European expansion.

• Clear path to profitability, targeting net profit in Q4 2025, excluding non-cash expenses settled in capital instruments.

• Enhanced risk models, integrated AI, and executed two AA-rated Italian ABS transactions.

Financial highlights

• 2024 GMV was €1,015.0m, down 21.7% year-over-year; total revenue €124.9–125m, up 0.8% year-over-year.

• Gross profit rose 12.3% to €42.8m in 2024 compared to 2023.

• Adjusted net loss for 2024 was €(49.0)m, mainly due to €32.7m in non-recurring items.

• Net income for 2024 was €(83.4)m, impacted by non-recurring items and share-based payments.

• Cash and cash equivalents at year-end: €276.8m, down from €310.3m in 2023.

Outlook and guidance

• Double-digit GMV growth and positive adjusted net income targeted for Q4 2025.

• Profitability targeted for Q4 2025, with >25% ROE by 2027.

• Strategic focus on expanding balance-sheet exposure and leveraging tech/data for product innovation.

• Expects lending margins to return to pre-crisis levels as inflation stabilizes below 3%.