on STORE ELECTRONIC SYSTEMS (SES) (EPA:SESL)
STORE ELECTRONIC SYSTEMS (SES): H1 2024 Results - Improved Profitability and Optimism for the Future
STORE ELECTRONIC SYSTEMS (SES) posted a clear increase in its results for the first half of 2024. Revenue reached €409 million, up 13% compared to H1 2023. Adjusted data indicate a variable cost margin (MCV) of 28%, an increase of 3.8 points.
Adjusted EBITDA stood at €59 million, marking an increase of 36%. Free cash flow jumped to €203 million, suggesting efficient cash management. The net cash position thus increased to €215 million.
The company is revising upwards its annual adjusted EBITDA margin target for 2024. These results are particularly driven by the positive dynamics in the United States, notably thanks to the deployment at Walmart.
With these performances, SES reaffirms its objective of reaching 1 billion euros in adjusted turnover in 2024 and is counting on sustained growth for 2025.
Investments, particularly in R&D and in the new EdgeSense solution, continue to stand out as key drivers of this progress.
R. P.
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