VusionGroup: 2023 results exceed expectations

(CercleFinance.com) - Last night, VusionGroup reported better-than-expected FY 2023 results, 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.

Ebitda rose 75% to E102m, giving an operating margin of 12.8%, up 3.4% on 2022.

In comparison, the consensus was looking for Ebitda of E99m, slighly less, i.e. a margin of 12.3%.

Net profit leapt 328% to E79.6m, while net cash generation was E67.7m, compared with -E48.8m in 2022.

Forecasts for 2024 are in line with expectations, with the Group still aiming to break through the E1bn sales threshold this year, compared with E802m 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 1 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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