Solocal Reports Q3 and 9M 2024 Revenue Decline and Completes Reverse Share Split

In the third quarter of 2024, Solocal Group reported a revenue of €83.8 million, which includes a €6.1 million contribution from Regicom. This marks a 10.7% decrease on a like-for-like basis compared to Q3 2023. Cumulatively, the nine months ending in September 2024 saw a 9.3% decline in revenues to €247.6 million, with a similar fall of 11.5% on a like-for-like basis.

The company's order backlog increased slightly to €182.8 million by the end of September 2024. Despite declining revenue, Solocal confirms its 2024 outlook, projecting a revenue potential of approximately €340 million, supported by cost-containment measures and an anticipated EBITDA margin of 15%.

Additionally, Solocal completed a reverse share split, consolidating 1,000 existing shares into one new share, resulting in 33,316,837 new shares issued. This restructuring followed technical adjustments and has had no impact on the market value of shares.