Lucibel (ALUCI) H1 2024 earnings summary

Executive summary

• Revenue for H1 2024 declined 38% year-over-year to €3.14M, driven by lower activity in both scenographic and cosmetic lighting segments.

• The group posted a net loss of €1.17M versus a profit of €179K in H1 2023, reflecting a sharp drop in gross margin and higher personnel costs.

• Major product launches included new OVE cosmetic devices and the Marco Polo museum lighting system, supporting strategic repositioning.

• A capital increase raised €1.8M net, strengthening equity and supporting ongoing deleveraging and expansion.

• Launched a restructuring plan expected to yield €2M in annual savings and operational improvements.

Financial highlights

• Revenue: €3.14M, down 38% year-over-year.

• Gross margin: €1.59M (50.7% of sales), down from €3.48M (69.4%) in H1 2023.

• Operating loss: €1.09M vs. €288K profit in H1 2023.

• Net loss: €1.17M vs. €179K profit in H1 2023.

• EBITDA: -€1.05M vs. €583K in H1 2023.

Outlook and guidance

• Operational restructuring underway, including consolidation of lighting production and outsourcing of cosmetic device manufacturing, targeting €2M in annual savings.

• Focus on B2B partnerships with luxury brands and expansion of Beauty Light Bars in high-end retail locations.

• Management targets a return to net profitability in 2025.

• Second-half 2024 to focus on cost rationalization, product launches (OVE range, Marco Polo), and B2B partnerships in luxury beauty tech.