Solutions 30 falls on cautious revenue growth forecast, high debt growth

Solutions 30 SE

04/04/2024 11:42

** Shares in Solutions 30  S30.PA  plunge by 10.1%, at the
bottom of France's SBF 120  .SBF120 , after the Luxembourg-based
new technologies company's full-year net loss widened by 54.6%
YoY to 22.7 million euros 
    ** Group reported full-year revenue in line with its
guidance at 1.057 billion euros ($1.15 billion) and net debt of
78.4 million euros, up 101.54% yoy, compared to €38.9 million a
year earlier
    ** Solutions 30 also flags slower growth in the Benelux
region in 2024 as elections in Belgium in the second half of the
year may slow down its fiber deployment business
    ** In a note, Midcap Partners underscores the company's 2023
Ebitda growth but flags its caution on revenue growth in 2024
    ** It also flags a potential 5 million euros one-off cost
related to ongoing regulatory negotiations in Italy
    ** Midcap analyst Christel Cleme says that while the group
expects strong revenues from Germany, the situation in other
countries, such as Italy or Belgium, remains uncertain
    ** she also points to the group's surprisingly high net debt
growth
    ** Solutions 30 is on track for its worst day since sept.
2023, when it closed 16.8% lower



 (Reporting by Alban Kacher)
 ((alban.kacher@thomsonreuters.com))