Keyrus 2024 half-year results: a notable drop

Keyrus has announced its financial results for the first half of 2024. Consolidated revenues amounted to €178.1 million, down 4.6% compared to the previous year. This decrease reflects an organic decline of 5.1%. By segment, Key Accounts posted a decrease of 9.0%, while Mid-Market grew by 9.9%.

Current operating income amounts to €4.5 million, compared to €7.9 million in 2023, representing a gross margin of 2.6% (4.2% in 2023). The company records an operating income of €3.0 million, down from €6.2 million the previous year, and a negative net income of -€1.7 million, compared to +€3.0 million in 2023.

Net debt reached €45.7 million, up from 2023, while net cash decreased to €42.5 million. Keyrus attributes these results to prudent investment management and unfavorable macroeconomic conditions.