2024 Q2 Revenue - Seite 2

Solutions30’s consolidated revenue amounted to €252.0 million in the second quarter of 2024, down -4.5% compared to the same quarter in 2023, including an organic decline of -4.7% and an impact from acquisitions of +0.2% (the exchange rate effect is negligible).

For the first half of 2024, revenue remained stable overall (-0.4%) compared with the same period in 2023, with a very slight organic decline of -0.7% and a +0.3% impact from acquisitions.

Benelux

The Benelux, the group’s largest region in terms of sales (38% of the total in Q2 2024), reported revenue of €96.1 million, a slight decrease of -1.1% (purely organic) compared to the same period last year, which had an exceptionally high growth rate of 87.7%.

Revenue from Connectivity solutions decreased by -3.7% to €75 million. After an extremely active year in 2023 (+108% in Q2 2023), Solutions30 kept its fiber-optic activities in Belgium at a high level. The impact from the federal elections held in June was minimal thanks to appropriate planning. However, deployment activities were delayed in the second quarter due to a wait-and-see attitude on the part of Belgian telecom service providers, who are in negotiations to streamline deployments across the country. Business prospects in Belgium remain excellent, with a sales pipeline worth around €330 million, providing excellent visibility for the teams in place.
  
Energy solutions continue to grow, with revenue up +9.2% in Q2 2024, reaching €15.9 million. This growth is fueled by the deployment of digital meters. The group’s current diversification into low-voltage electrical grid services and photovoltaics represents an additional reserve of profitable future growth, as demonstrated by the recent contract won from Fluvius to modernize the low-voltage power grid in Flanders (see press release from April 23, 2024).

Technology solutions posted revenue of €5.2 million in the second quarter of 2024, up +9.5%.         

For the first six months of the year, Benelux revenue totaled €196.8 million, up 9.4% on a purely organic basis.

France

In France, revenue for the second quarter of 2024 amounted to €90.7 million (36% of the total), down -7.2%, including an organic decline of -7.8% and the +0.6% impact from the acquisition of Elec-ENR, consolidated from July 2023.

Revenue from Connectivity solutions amounted to €60.2 million, down -13.6% compared to the same quarter in 2023. Amid a slowdown in the connection market, Solutions30 is enforcing strict selectivity, further prioritizing margins and cash generation over volume. To that end, the Group has significantly reduced its exposure to certain contracts whose margins no longer met group standards.