Q1 2024 Results - Investor Presentation
Financial Review - Reported EBITDA to Net Income
Net Income is fairly stable in Q1 2024 vs. Q1 2023. The P&L structure from Reported EBITDA to Net
Income remained very stable between Q1 2023 and Q1 2024.
Reported EBITDA to Net Income
THOM
First Quarter
LTM Ended
December
In €m
2023
2024
Reported EBITDA
116.7
118.3
Var. %
1.3%
Depreciation, amortisation & provisions, net
(25.7)
(26.9)
(5.0)%
Operating profit from recurring activities
91.1
91.3
0.3%
2024
274.4
(110.8)
163.7
Other non-recurring operating income
0.1
0.2
54.6 %
1.7
Other non-recurring operating expenses
(1.7)
(2.9)
(66.6)%
Income (expense) from recurring operations
89.5
88.6
(0.9)%
(11.7)
153.7
Cost of net financial debt
(10.1)
(10.8)
(7.0)%
Other financial income and expenses
(7.4)
(6.9)
7.5 %
Profit before tax
72.0
71.0
(1.4)%
Income tax expenses
Net income (loss)
(21.6)
(22.3)
(3.2)%
(42.0)
(24.2)
87.5
(44.8)
50.4
48.7
(3.3)%
Q1 2024 Results - Investor presentation March 15, 2024
42.7
Depreciation, amortization and provisions net of provision reversals
Depreciation, amortization and provisions net of provision reversals
totaled €(26.9)m in Q1 2024 mainly composed of (i) €(26.5)m in net
depreciation and amortization of intangible assets, property, plant and
equipment, and right-of-use assets and (ii) a €(0.7)m provision for
inventories.
Depreciation of right-of-use assets for Q1 2024 and Q1 2023 amounted to
€(19.3)m and €(18.2)m, respectively, with the increase mainly due to new
or renewed leases in France and Italy.
Cost of net financial debt totaled €(10.8)m in Q1 2024, an increase of
€(0.7)m, from €(10.1)m in Q1 2023. The increase is mainly attributable to a
€(0.6)m (€(1.9)m net of €1.3m hedge income from an interest rate mark-to-
market derivative instrument) net increase in the FRN interests due to the
increase of the EURIBOR rate and a €(0.2)m increase in the interest expense
relating to RCF, which was drawn for a longer time in Q1 2024 compared to
Q1 2023.
Other financial income and expenses for €(6.9)m in Q1 2024, compared to
€(7.4)m in Q1 2023 are mainly composed of lease interest expenses and
foreign exchange loss.
Income tax totaled €(22.3)m in Q1 2024, an increase of €(0.7)m, from
€(21.6)m in Q1 2023. This increase was mainly due to a €(2.6)m increase in
current income tax expense not offset by a €1.4m decrease in deferred tax
losses and a €0.6m decrease in CVAE.
p.19View entire presentation