The Baltic Classifieds Group PLC Board has proposed a final dividend of 2.1 € cents per share for 2024. The final dividend will be paid, subject to shareholder approval, on 18 October 2024.
Other financial highlights:
Revenue grew 19% to €72.1 million (2023: €60.8 million). Core classifieds revenue streams B2C and C2C, which together comprise 90% of total revenue, grew 22% and 18% respectively.
EBITDA grew 20% to €55.3 million (2023: €46.0 million). Their EBITDA margin expanded by 1% pt to 77% (2023: 76%). Accounting operating profit grew 32% to €38.3 million (2023: €29.1 million).
Adjusted basic EPS grew 20% to 9.2 € cents (2023: 7.7 € cents) while basic EPS grew 40% to 6.5 € cents (2023: 4.7 € cents).
Adjusted net income grew 18% to €45.0 million (2023: €38.0 million) with adjustments to profitability being the amortisation of acquired intangibles, the corresponding tax impact and a one-off tax credit relating to 2021. Profit for the period grew 38% to €32.0 million (2023: €23.2 million).
Cash generated from operating activities grew 23% to €59.0 million (2023: €48.0 million), with cash conversion maintained at 99% (2023: 99%).
Voluntary repayment of €20 million of debt, to end the year with a gross loan balance of €50.0 million (2023: €70.0 million). Net debt reduced to €27.5 million (2023: €45.3 million), with a year-end Net debt / EBITDA of 0.5x (2023: 1.0x).
Clear capital allocation framework, with €32.6 million returned to shareholders by way of share buybacks (€19.3 million) and dividends (€13.3 million) (2023: €16.7 million returned to shareholders).
