From GlobeNewswire: 2025-03-26 12:45:00

Quadient saw a solid first year of their strategic plan, with Digital Solution revenue reaching €267 million and 61% EBITDA growth to €47 million. FY 2024 targets were met, with subscription-related revenue up +10.2% in Digital and +11.5% in Lockers. Consolidated sales were €1,093 million, up +2.8% reported. Proposed dividend is €0.70 per share.

CEO Geoffrey Godet is pleased with Quadient’s performance in FY 2024, with Digital revenue hitting €270 million and EBITDA growing by 61% to €47 million. Lockers had a strong H2 performance with double-digit revenue growth. Quadient aims to exceed a 20% EBITDA margin by 2026 and increase recurring revenue to €1 billion by 2030.

Group sales in FY 2024 reached €1,093 million, a +2.8% increase reported and +0.4% organic growth. Subscription-related revenue was €777 million, up +1.6% organically, representing 71% of total sales. North America outperformed other regions with a +2.8% organic growth. Digital revenue reached €267 million, up 7.7% organically. Quadient’s Digital revenue for FY 2024 saw a strong 10.2% organic growth in subscription-related revenue, reaching €232 million in annual recurring revenue. EBITDA was €47 million, with a 17.5% margin. The company added over 2,600 new customers and secured key deals in the US, positioning itself for continued growth.

In contrast, Mail revenue for FY 2024 was €732 million, down 2.5% organically. EBITDA was €200 million, with a 27.4% margin. Despite the decline, Quadient’s Mail business outperformed the market, with a high customer satisfaction rate of 95.7% and strong cross-selling performance in the US.

Lockers revenue for FY 2024 reached €94 million, up 4.3% organically, with subscription-related revenue increasing by 11.5%. The global locker installed base grew to around 25,700 units, with a focus on expanding in the US, UK, France, and Japan. Subscription-related revenue accounted for 64% of total revenue in FY 2024. Quadient is seeing an increase in the installation of new lockers, especially in the UK, with EBITDA for Lockers reaching €1 million in FY 2024. The company’s EBITDA margin improved to 0.6%, driven by recurring revenue growth and partnerships like the one with Yamato in Japan.

In Europe, Quadient is expanding its locker network, with installations up 145% year-on-year. North America also saw positive growth, particularly in residences and universities. Volumes for pick-up and drop-off services in Europe and North America increased significantly, while Japan is focusing on driving volume growth through new partnerships.

Quadient’s full-year 2024 results show a 3.7% increase in sales, reaching €1,093 million. The company’s EBITDA for the Group was €247 million, up 3.0% organically. EBITDA margin stood at 22.6%, supported by growth in Digital and improved profitability in Lockers, offsetting softer performance in Mail.

Gross margin for Quadient stood at 74.8% in FY 2024, slightly higher than in FY 2023. Depreciation and amortization increased slightly to €101 million in FY 2024. Current operating income reached €146 million, up 2.2% organically, with optimization costs and other expenses at €23 million.

Net income for Quadient in FY 2024 was €66 million, slightly lower than in FY 2023. The company saw an increase in net cost of debt to €39 million, impacted by higher interest rates. However, income tax expenses remained stable at €17 million, with net income from discontinued operations at null, compared to a loss of €14 million in FY 2023. Quadient reported a net loss of €26 million for FY 2024, including charges related to the sale of a subsidiary. Net income after minority interests was €66 million, with earnings per share at €1.94. Cash flow improved due to a net cash inflow of €9 million from working capital changes.

The leasing portfolio increased to €623 million, with a default rate around 1.1%. Interest and taxes paid rose to €67 million. Capital expenditure reached €108 million, with free cash flow at €66 million. Net debt increased to €741 million in 2025.

Quadient raised €325 million in new facilities, extending average debt maturity to four years. Leverage ratio remained at 3.0x, with a strong liquidity position of €667 million. Shareholders’ equity reached €1,113 million, with proposed dividend of €0.70 per share.

Proposed dividend increased by 8% to €0.70 per share. Share buyback program launched for €30 million. Quadient targets accelerated organic revenue and EBIT growth in 2025, confirming 3-year guidance for 2024-2026 period.

Overall, Quadient’s financials show improvements in cash flow, debt structure, and shareholder returns. The company’s strategic plans aim for continued growth in revenue and profitability, with a focus on digital and locker services. Avaloq and Quadient partner to enhance client communications for financial services, offering unrivaled customer communications management capabilities. Quadient launches SimplyMail in Europe for small businesses to optimize mail operations. Quadient recognized as a worldwide leader in automated document generation and CCM by IDC, surpassing 25,000 global locker installations. Quadient secures a USD50 million bank loan from Bank of America to strengthen financial position. Quadient records the fastest growth among CCM market leaders, with 13.7% revenue growth in 2023. Quadient receives a new contract worth c.$1.6 million to enhance a US government agency’s mail automation capacity. Quadient partners with leading human resources technology company for accessibility compliance in customer communications. Quadient collaborates with ScotRail to introduce parcel lockers at stations across Scotland. Quadient strengthens financial position with a USD100 million US Private Placement from MetLife. Quadient partners with Buzz Bingo to bring parcel lockers to bingo clubs across the UK. Quadient secures a deal over $1M with a leading US law firm to streamline mailing, shipping, and accounting processes. Quadient reports strong year-end locker usage growth in North America across multifamily and higher education campuses. Morrisons partners with Quadient for convenient parcel delivery at Morrisons Daily stores. Parcel Pending by Quadient will install parcel lockers at 230 Morrisons Daily stores by spring 2025. Quadient partners with Japan Post to allow consumers to ship parcels from Packcity Japan’s open network of automated lockers. Quadient maintains its leadership position on the Aspire Leaderboard for Customer Communications and Interaction Experience Software. Conference call and webcast information available for investors. Upcoming events include Q1 2025 sales release on 3 June 2025 and Annual General Meeting on 13 June 2025. Quadient is a global automation platform provider listed on Euronext Paris. 1. The unemployment rate in the US has dropped to 4.2% in September, the lowest since February 2020. This marks a significant improvement from the 5.2% rate in August, as more people return to work amid economic recovery.

2. The FDA has authorized booster shots of the Moderna and Johnson & Johnson COVID-19 vaccines for certain groups. This decision comes after data showed waning immunity over time, particularly for those at higher risk of severe illness.

3. Global carbon dioxide emissions are set to reach an all-time high in 2023, according to a new report. This alarming trend is driven by increased fossil fuel consumption and a lack of significant action to address climate change on a global scale.

4. The United Nations has warned of a looming hunger crisis in Afghanistan, with millions of people facing severe food insecurity. This comes as the country grapples with a dire economic situation and the aftermath of the Taliban takeover earlier this year.



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