Q1 2024 REVENUE
13 MAY 2024
DISCLAIMER
This presentation, the presentation materials and discussion may contain certain forecasts, projections and forward-looking statements - that is statements related to future, not past, events - in relation to, or in respect of, the financial condition, operations or businesses of Solutions 30 SE.
Any such statements involve risk and uncertainty because they relate to future events and circumstances. There are many factors that could cause actual results or developments to differ materially from those expressed or implied by any such forward looking statements, including, but not limited to, matters of a political, economic, business, competitive or reputational nature. Nothing in this presentation, the presentation materials and discussion should be construed as a profit estimate or profit forecast.
Solutions 30 SE does not undertake any obligation to update or revise any forward-looking statement to reflect any change in circumstances or expectations.
In the following slides, figures have been rounded to the nearest whole number or the nearest decimal. Therefore, the sum of the numbers may not conform exactly to the total figure or to 100%.
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TODAY'S PRESENTERS
Gianbeppi Fortis | Amaury Boilot | Jonathan Crauwels |
Chief Executive Officer | Group General Secretary | Chief Financial Officer |
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Q1 2024
Overview
Gianbeppi Fortis, CEO
Amaury Boilot, Group General Secretary
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Q1 2024 HIGHLIGHTS
Uninterrupted revenue growth driven by digital transformation and energy transition
+3.8%, to € 265m in Q1 2024
Continued strong momentum in Benelux
+21.6% revenue growth in Q1, against a very high comparison basis
Energy activities confirmed as a powerful growth driver for the Group
+35.9% revenue growth in Q1
+47.6% in France where the activity mix rebalancing is in progress
Q1 revenue growth excluding Italy: +6.7%
Situation in Italy currently improving
Activity anticipated to come back to normal during H2
Full-year outlook confirmed
Continued revenue growth, at a higher rate than in Q1, with visibility significantly improved in Italy and Belgium, and ramp-up of German fiber activities
Further improvement in adjusted EBITDA margin
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+6.7% REVENUE GROWTH EXCLUDING ITALY
+€ 9.8m (+3.8%) | |||||||||||||||||||
+6.7% excluding Italy | |||||||||||||||||||
Organic change: +€ 8.6m (+3.4%) | |||||||||||||||||||
+6.2% excluding Italy | |||||||||||||||||||
+17.9 | Others | ||||||||||||||||||
263.8 | +1.2 | 265.0 | |||||||||||||||||
+1.6 | |||||||||||||||||||
255.3 | -5.0 | ||||||||||||||||||
Italy | |||||||||||||||||||
-6.0 | |||||||||||||||||||
-4.4 | |||||||||||||||||||
Org. growth: | Org. growth: | Org. growth: | |||||||||||||||||
+21.6% | -4.9% | -6.2% | |||||||||||||||||
Excl. Italy: | |||||||||||||||||||
+3.1% | |||||||||||||||||||
Q1 2023 | Benelux | France | Other | Q1 2024 | France | Q1 2024 | |||||||||||||
revenue | Countries | revenue | revenue | ||||||||||||||||
Organic | (organic) | ||||||||||||||||||
Acquisitions |
- Continued strong growth in
Benelux despite high comparison basis (+77% in Q1 2023) - Rebalancing the French activity mix towards Energy (+47.6% growth in Q1, of which 38% organic, driven by renewable energies)
- Impact from current situation in Italy (started Q3 2023); normalization in process
- Solid growth in Germany
- Successful development in Poland
In millions of euros
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ENERGY ACTIVITIES: A POWERFUL GROWTH DRIVER +36% GROWTH IN Q1
+3.8% | ||
255.3 | 265.0 | |
Energy | ||
27,1 | 36,9 | |
+35.9% | ||
28,4 | Technology | 25,7 |
-9.5% | ||
199,8 | Connectivity | 202,5 |
+1.4% | ||
Q1 2023 | Q1 2024 | |
Connectivity | Energy | Technology |
Energy transition : a powerful growth driver for the Group
- Energy activity up +35.9% in Q1
- Successful diversification in Solar and grid modernization
- Buoyant market in France
Connectivity benefitting from Pan-European footprint
- Proven business model deployed across Europe, allowing to capture all opportunities in fiber
- Significant growth potential in Benelux, Germany, Poland, UK; mature markets in France and in Spain
+3.8% | ||
255.3 | 265.0 | |
82,8 | Benelux | 100,7 |
+21.6% | ||
70,8 | Other Countries | 66,5 |
-6.2% | ||
101,6 | France | 97,9 |
-3.7% | ||
Q1 2023 | Q1 2024 |
France | Other Countries | Benelux |
In millions of euros
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Q1 2024
Details per region and activity
Jonathan Crauwels, CFO
Amaury Boilot, Group General Secretary
BENELUX: STRONG MOMENTUM 38 % OF Q1 2024 REVENUE
+21.6% | ||
100.7 | ||
82.8 | Energy | 16,7 |
+14.6% | ||
14,6 | Technology | 5,3 |
4,8 | +11.6% | |
Connectivity | 78,7 | |
63,5 | +24.0% | |
Q1 2023 | Q1 2024 |
Connectivity Technology Energy
Energy: +14.6%
Continued development, successful diversification
- Roll out of digital meters in Flanders
- Successful diversification in electrical grid modernization: contract with Fluvius to transform >1000 km of low-voltage network to adapt to new electricity needs
Connectivity: +24.0%
Continued ramp-up of fiber activities
- Strong growth on a high comparison basis (Q1 2023: +92%), despite unfavorable weather conditions
- Impact of forthcoming Belgian elections on fiber deployment activities expected to be minimized in light of recent planning with municipalities and customers
Technology: +11.6%
Robust momentum driven by digital transformation
- Good growth in IT services
Revenue figures are expressed in millions of euros; % represent year-on-year revenue growth, including organic and inorganic variations
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FRANCE: MIX REBALANCING TOWARDS ENERGY IN PROGRESS 37 % OF Q1 2024 REVENUE
-3.7% | ||
101.6 | 97.9 | |
Energy | ||
11,9 | ||
+47.2% | 17,5 | |
17,7 | Technology | |
15,6 | ||
-11.5% | ||
72,1 | Connectivity | 64,7 |
-10.3% | ||
Q1 2023 | Q1 2024 |
Connectivity Technology Energy
Energy: +47.2%
Confirming potential as the #1 growth driver in France
- Strong momentum in renewable energies, which revenue doubled in Q1: ramp- up of large PV infrastructure projects, good commercial traction thanks to recent ENR law
- Finalization of the acquisition of a minority stake in So-Tec, PV structure installer in the south of France. Stake to be progressively increased (c. € 20m revenue to be consolidated in 2025)
Connectivity: -10.3%
Continued managed decrease in revenue with strong focus on margins
- Contract selectivity and focus on profitability in the mature fiber market
- Growing share of maintenance activities, where Solutions30 has a strong competitive advantage
Technology: -11.5%
- Lower volumes in IT, improvement expected thanks to 2024 Paris Olympics
Revenue figures are expressed in millions of euros; % represent year-on-year revenue growth, including organic and inorganic variations
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Solutions 30 SE published this content on 13 May 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 May 2024 16:50:01 UTC.