Broadpeak SA announces its annual results for 2023

Broadpeak SA (ALBPK) published its financial results for the year 2023, revealing a turnover of 39 million euros, down 6.8% compared to 2022. This regression is attributed to a difficult second half , marked by a significant decline of -18.9% after a positive first half of the year (+12.5%). The sector has been affected by increased reluctance from key customers, mainly TV and telecoms operators, who generate more than 80% of the company's revenues.

Despite the decline in activity, recurring revenue grew by a remarkable 41%, driven by an expansion in the maintenance and SaaS services segment. The gross margin increased to 76.2% in 2023, compared to 74.5% the previous year, benefiting from the favorable evolution of the product mix. The adjusted EBITDA for the research tax credit is close to breakeven, demonstrating effective cost management despite a difficult operating environment.

For 2024, Broadpeak is focused on growing its revenue and improving its currently negative free cash flow. This recovery should be supported by the implementation of a savings plan and the optimization of R&D spending. The company remains cautious but optimistic about its ability to generate stable growth in the medium term, despite a still uncertain environment.