From GlobeNewswire: 2024-04-03 12:00:00

Solutions30 reports strong financial performance for 2023, with revenue hitting €1.057 billion, up 16.8% from the previous year. Adjusted EBITDA rose significantly by 59.6%, reaching €74.6 million. Margin growth was solid, with the adjusted EBITDA margin at 7.1% for the year, nearly tripled from the second half of 2022.

The Benelux region showed excellent momentum for Solutions30, becoming the top area in terms of revenue and margins. Operating margins rebounded, reaching 8.8% in the second half of 2023. While the group share of net income remained negative at -€22.7 million, there were clear improvements across all performance indicators.

In France, revenue declined slightly by 5.3%, largely due to the mature fiber market. Adjusted EBITDA for France saw a significant increase of 70.7%, reaching €35.5 million with a margin of 8.8%. The Energy segment aims to pivot to solar panel installation following the end of smart meter installations.

The Benelux region saw substantial growth in revenue, up 72.0% in 2023, driven by high fiber optic connectivity activity and expanding energy transition activities. Adjusted EBITDA in the Benelux reached €43.6 million, with a margin of 11.4%. The region saw improvement in margins, reaching double digits in the second half of the year.

Other countries segment revenue rose by 6.0%, with growth in Poland and England. The group is expanding in Germany, with commercial successes in the fiber segment. Spain and Italy are also showing potential for growth. In 2024, Solutions30 anticipates another year of revenue growth, with adjusted EBITDA margins closing in on their double-digit target.



Read more at GlobeNewswire:: 2023 Earnings Report