DJ Prodware: Significant improvement in performance indicators in H1 2024
Prodware
Prodware: Significant improvement in performance indicators in H1 2024
15-Oct-2024 / 19:30 CET/CEST
Dissemination of a French Regulatory News, transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.
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Press Release
Paris, October 15th, 2024 - 7:00 pm
Significant improvement in performance indicators in H1 2024
Current Operating Result: EUR36.5 million (+119%)
Net Income Group Share: EUR25.2 million (+185%)
Successful Integration of Key Strategic Acquisitions
IFRS Standards
06.2024 06.2023
Unaudited data in MEUR Variation
Consolidated revenue 315.7 108.3 +191.4%
EBITDA 47.3 26.5
+78.8%
In % of the revenue 15.0% 24.4%
Current Operating Income 36.5 16.7
+118.9%
In % of the revenue 11.6% 15.4%
Operating income 36.3 16.7 +117.4%
Net Income Group Share 25.2 8.9 +184.7%
Significant Increase in Business in the First Half of 2024
In the first half of 2024, Prodware generated an impressive revenue of EUR315.7 million, nearly tripling business from EUR108.3 million, during the same period in 2023. After accounting for divested activities and maintaining a constant perimeter, the company reported a 23.4% organic growth rate.
The split in revenue shows that 31% of the total revenue is generated from Business Applications, while Managed and Staffing Sourcing accounts for the remaining 69%.
On the international front, sales amounted to EUR284.3 million, making up a significant 90% of the overall revenue.
Growth in Operational Profitability Driven by Volume Increase
In the first half of 2024, EBITDA reached EUR47.3 million, marking an impressive increase of 78.8% compared to the same period in 2023. Consequently, this translates to an EBITDA margin of 15.0%.
Partially driven by a relatively stable level of depreciation and provisions, the Current Operating Income demonstrated impressive growth of 118.9%, reaching EUR36.5 million.
The financial result, reported at -EUR11.0 million, mainly reflects the expense associated with net financial debt, which increased by EUR4.1 million due to the combined impact of rising debt from external growth initiatives and higher interest rates.
After accounting for corporate tax, the Group's net profit stands at EUR25.2 million, nearly three times higher than the figure reported for the same period in the previous fiscal year.
Financial Strength
As of June 30, 2024, Prodware's equity has risen to EUR102.0 million, compared to EUR76.7 million on December 31, 2023, largely driven by the net profit generated during this period.
The net debt, which includes IFRS lease liabilities, amounts to EUR224.1 million, representing 2.44 times the EBITDA for the past twelve months. This is an improvement from a ratio of 2.64 times recorded at the end of December 2023. Furthermore, the long-term debt covenant is established at 3.25.
Outlook
The group is set to launch the first year of its strategic plan for 2024-2026 with optimism, bolstered by the successful integration of its latest acquisitions and a robust recovery in key performance metrics. As previously indicated, Prodware is committed to advancing its dual approach of scaling operations while enhancing profit margins over the next three years.
The notable increase in market share across key target regions has established Prodware as a leading force in supporting the digital transformation journey of customers. This strong position is enhanced by a holistic 360° service portfolio designed to cater to a wide range of customer needs effectively.
In 2024, the group aims to achieve nearly EUR700 million in revenue.
About Prodware
With 30 years of experience and know-how in IT innovation, we strive to provide value and expertise to our customers around the world. Whether we're implementing the most ambitious cloud strategies, developing AI-powered decision-making tools, or creating IoT applications, Prodware is always at the cutting edge of innovation.
Since its inception, Prodware has leveraged technological progress to help businesses prepare for the future by creating new economic models for the manufacturing, sales, distribution, finance, and business service industries.
The Prodware group includes more than 1 900 employees across 14 countries. It generated revenues of EUR380.6 million in 2023. Prodware SA is listed on Euronext Growth and is eligible for FCPI (innovation funds) and SME PEA (equity savings plan).
For more information: www.prodware-group.com PRODWARE Stéphane Conrard Financial Director T: 0979 999 000 investisseurs@prodware.fr PRESS Gilles Broquelet CAP VALUE T: 01 80 81 50 00 gbroquelet@capvalue.fr EURONEXT GROWTH ISIN FR0010313486 - ALPRO - FTSE 972 IT Services Prodware qualifies for FCPI and is committed to responsible business practices. Prodware is member of the Global Compact.
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Regulatory filing PDF file File: CP_Prodware_RS_2024 - 15.10.24 UK
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Language: English
Company: Prodware
45 Quai de la Seine
75019 Paris
France
ISIN: FR0010313486
Euronext Ticker: ALPRO
AMF Category: Inside information / News release on accounts, results
EQS News ID: 2009057
End of Announcement EQS News Service
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2009057 15-Oct-2024 CET/CEST
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October 15, 2024 13:30 ET (17:30 GMT)
