Continued recovery of margins and strong improvement in cash generationRelevance of the selectivity strategy implemented in 2024, prioritizing margins Another year of strong improvement in adjusted EBITDA margin: 7.5% in 2024, up 40 basis points compared to 2023Slight increase in adjusted EBITDA to €75.1 million, despite the 5.8% decrease in revenueGradual recovery in net income, group share: -€15.8 million in 2024, compared with -€22.7 million in 2023Net income, group share adjusted for amortization of customer relationships: -€6.0 million, compared with -€12.9 million in 2023 Sustained momentum for the Group’s profitable growth drivers Confirmation of Germany’s strong potential: +33.6% growth, accretive adjusted EBITDA margin for the GroupExpansion of the Energy business: +28.5% growth, including +52.0% in France, driven by accelerated development in solar Strong improvement in cash generation, solid financial position Net free cash flow: €5.9 million, compared with -€17.0 million in 2023Net bank debt: €0.8 million at the end of 2024Bank debt successfully refinanced in November 2024 for €120 million On track to meet 2026 targets Tripling of revenue in Germany compared to 2023Tripling of revenue in Energy in France compared to 2023Adjusted EBITDA margin above 10% in the Group’s three main geographies: Benelux, France and Germany Today, Solutions30 SE is announcing its consolidated earnings for the year ended December 31, 2024, prepared in accordance with IFRS.
Reconciliation between operating income and adjusted EBIT: In millions of euros31.12.202431.12.2023Operating income 0.6 (2.7) Customer relationship amortization 14.5 14.4 Other non-current operating income (2.2) (0.4) Other non-current operating expenses 15.5 11.4 Adjusted EBIT 28.4 22.6 As a % of revenue 2.9 % 2.1 % The adjusted group share of net income corresponds to the "Net income, group share” as shown in the group financial statements, to which is added "Amortization of customer relationships, group share” and from which is deducted the "Tax impact on amortization of customer relationships, group share.” In millions of euros31.12.202431.12.2023Net income, group share (15.8) (22.7)Amortization of customer relationships, group share 13.2 13.1 Tax impact on amortization of customer relationships, group share (3.4) (3.3)Adjusted group share of net income (6.0) (12.9) Net debt corresponds to "Debt, long-term,” "Debt, short-term,” and long- and short-term "Lease liabilities” as they appear in the Group’s financial statements from which "Cash and cash equivalents” as they appear in the Group’s financial statements are deducted.
This program, combined with a solid financial position, provides Solutions30 with the resources it needs to finance its growth strategy.Including €68.8 million in lease liabilities (IFRS 16) and €4.1 million in potential financial debt linked to future earnouts and put options, the Group’s total net debt stood at €73.8 million at December 31, 2024, down slightly from €78.4 million at December 31, 2023.
