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Investing.com -- Shares of Adesso AG (ETR:ADNGk) (ETR:ADN1) edged up 1% today following the company’s release of its audited fourth quarter figures, which confirmed the preliminary results from mid-February.
Adesso reported a 14.2% increase in sales to €1,297 million for 2024, up from €1,136 million the previous year, with an organic growth of 14%. The company’s EBITDA rose to €98.3 million in 2024, marking a 23% increase YoY and outpacing sales growth.
The improved EBITDA margin of 7.6% for the full year, up from 7.0% in 2023, was noted despite high investments in the product business. Adesso also highlighted a significant recovery in the second half of 2024, with the EBITDA margin reaching 10.6%, driven by a reduction in hiring and a gradual increase in capacity utilization.
The company anticipates further improvements in 2025, with sales expected to reach between €1.35-1.45 billion and EBITDA projected to grow to €105-125 million. Analysts’ consensus is aligned with the upper end of these forecasts.
Additionally, Adesso announced a dividend proposal of €0.75 per share for 2024, which is an increase from the previous year’s €0.70 per share. The company’s guidance for 2025 is in line with market expectations, and with a forecasted increase in capacity utilization and a resurgence in the product business starting in the second half of the year, the EBITDA margin is expected to return to the target range of 11-13%.
In response to the news, an analyst from Jefferies commented, "the positive margin trend is expected to continue in 2025," reflecting optimism about Adesso’s financial health and strategic direction.
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