Groupe OKwind Société anonyme (ALOKW) H2 2024 earnings summary

Executive summary

• 2024 revenue declined 31% year-over-year to €57.1 million, mainly due to a sharp drop in BtoB activity amid adverse macroeconomic conditions.

• Despite the revenue downturn, gross margin improved by 1.9 points to 53%, and EBITDA remained positive at €0.5 million.

• Net financial debt decreased to €5.8 million as of December 31, 2024, supported by a strong cash position of €16 million.

• The Farm business line was significantly impacted by sector crises, while Industry/Local Authorities remained steady and Individual Customers were stable.

• Construction of a new industrial site in Etrelles is progressing, with delivery expected between late 2025 and early 2026.

Financial highlights

• Revenue fell to €57.1 million in 2024 from €82.5 million in 2023 (-31% year-over-year).

• EBITDA was €0.5 million, down from €12.9 million in 2023.

• Net income (Group share) was a loss of €3.6 million, compared to a profit of €7.6 million in 2023.

• Gross margin improved to 53% from 51.1% in 2023.

• Q1 2025 revenue was €6.3 million, down 58% year-over-year.

Outlook and guidance

• A renewed marketing and commercial strategy and enhanced solution offering are expected to drive order intake recovery in H2 2025.

• The company aims to return to profitable and sustainable growth, supported by a more favorable regulatory and market environment.

• Strategic focus includes rolling out multi-technology solutions and expanding into larger-scale collective self-consumption projects.