Business
GUILLEMOT CORPORATION: 2024 ANNUAL RESULTS / Net operating income up 48%
GUILLEMOT CORPORATION: 2024 ANNUAL RESULTS / Net operating income up
About this update from Guillemot Corp. Sa
[{"type":"text","content":"Carentoir, March 26, 2025\n 2024 ANNUAL RESULTS\n Net operating income up 48%\n Guillemot Corporation's financial statements (audited financial statements approved by the Board of Directors at its meeting held on March 25, 2025, pending the statutory auditors' certification report) may be summarized as follows:(€m)\n January 1 - December 31, 2024\n Turnover\n Net operating income\n Net financial income*\n Corporate income tax\n Consolidated net income\n Basic earnings per share\n Dec. 31, 2024\n Dec. 31, 2023\n Change\n 125.1\n 119.1\n +5%\n Thrustmaster\n 113.1\n 104.9\n +8%\n Hercules\n 12.0\n 14.2\n -15%\n 3.7\n 2.5\n +48%\n -2.5\n -1.4\n -\n 0.0\n -0.1\n -\n 1.2\n 1\n +22%\n €0.08\n €0.06\n +22%* Net financial income includes the cost of net financial debt as well as other financial income and expenses.\n Turnover grew 5% in fiscal 2024 to €125.1 million, up 8% at Thrustmaster but down 15% at Hercules.\n The Group generated net income from ordinary activities of €3.7 million, up 48%, and consolidated net income of €1.2 million. The accounting gross profit margin for 2024 amounted to 53%, up 4.5 percentage points year on year in a highly competitive environment.\n At the same time, total expenses excluding purchases and changes in inventories were up 13%, with sales and marketing expenses up 21% and the workforce expanding by 8%. In 2024, the Group maintained its investment in research and development at €8.9 million, equating to 7.1% of consolidated turnover.\n The net financial expense of €2.5 million includes a €4.4 million revaluation loss on current financial assets (investment securities) consisting of 443,874 Ubisoft Entertainment shares as well as a positive net foreign exchange position of €1.2 million. Consolidated net income for the year totaled €1.2 million. At its meeting held on March 25, 2025, the Board of Directors of Guillemot Corporation S.A. did not propose the payment of any dividend.\n Balance sheet items\n (€m)\n Shareholders' equity\n 100.3\n 101.8\n Inventories\n 38.3\n 45.7\n Net debt*\n -23.7\n -16.7\n Current financial assets (investment securities)\n 5.8\n 10.3* Investment securities are not taken into account when calculating net debt.Dec. 31, 2024 Dec. 31, 2023\n Group shareholders' equity stood at €100.3 million at December 31, 2024. Inventories declined by 16% over the year, in keeping with the...