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.

• Full-year operating results aligned with expectations, despite a capital-constrained environment and turbulent macroeconomic conditions.

• Secured €153m capital injection via business combination, supporting strategic evolution and growth.

• Transformation agenda executed, positioning the business for sustained, profitable growth.

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

Financial highlights

• 2024 GMV was €1,015.0m, down 21.7% year-over-year; total revenue €125m, up slightly from 2023.

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

• Adjusted net income for 2024 was €(49.0)m, a 4.7% decline from 2023.

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

• CET1 ratio stood at 29.4%, with LCR at 3,227% and NSFR at 166%.

Outlook and guidance

• Double-digit GMV growth expected in 2025 after two years of constrained capital.

• Profitability targeted for Q4 2025, with >25% ROE by 2027, excluding non-cash expenses settled in capital instruments.

• Additional capital will support extended balance sheet capabilities and future GMV growth.

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