Last night, VusionGroup reported better-than-expected full-year results for 2023, despite an economic environment deemed 'adverse' for both retail and consumer spending.

The ex-SES-imagotag share, world leader in retail digitalization solutions, was up by over 10% at around 10:00 am, the biggest gain on the SBF 120 index.

On Thursday, the group reported a sharp rise in profitability and positive net cash flow, despite strategic investments in R&D and acquisitions.

Its operating income before non-recurring items (Ebitda) was up 75% at 102 million euros, giving an operating margin of 12.8%, up 3.4 percentage points on 2022.

By way of comparison, the consensus was for an Ebitda of 99 million euros, giving a margin of 12.3%.

Net profit was up 328% to €79.6 million, while net cash generation was €67.7 million, compared with -€48.8 million in 2022.

Forecasts for 2024 are in line with expectations, with the Group still aiming to break through the €1 billion sales barrier this year, compared with €802 million last year.

As a result of its expansion in the United States, where Walmart is now its main customer, the company also anticipates "robust" growth in order intake in 2024.

Finally, the group is aiming for further improvement in profitability, with an adjusted Ebitda margin expected to grow by 0.5 to one point in 2024, and cash flow to remain positive.

Given this positive outlook, and the successful refinancing at the end of 2023, Vusion is confident of financing its Vusion-27 strategic plan.

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