WE.CONNECT 2024 Half-Year Results: Contrasting Results

WE.CONNECT, a player in high-tech accessories, has published its results for the first half of 2024. Revenue stands at €120.3 million, down 7.3% compared to last year. Despite this decline, operating profitability is holding up with operating income increasing by 0.3 points to 5.2% of revenue.

EBITDA decreased by 6.3%, reaching EUR 6.2 million, while net income decreased by 12.8%, notably due to an unfavorable euro-dollar exchange rate. Equity amounted to EUR 56.9 million, up thanks to the integration of MCA Technology.

WE.CONNECT remains optimistic about its outlook, targeting revenues of €300 million in 2024, supported by the integration of MCA Technology and Black Friday sales. The long-term target is €400 million in 2025.