Friday saw the release of CHAPTERS Group AG’s interim report for the first half of 2024, revealing significant growth. The company’s revenue surged to €58.4 million, a 34% increase from the same period in 2023. The adjusted EBITDA for the operating companies also saw a notable rise of 23% year over year, reaching €13.7 million.
In the first six months of 2024, CHAPTERS Group AG expanded its portfolio by acquiring five additional operating companies, all within the Vertical Market Software (VMS) segment. This segment contributed approximately 65% of the group’s operating EBITDA, up from around 50% in the first half of the previous year. Marlene Carl, the Chief Financial Officer, highlighted the group’s organic growth alongside its strategic acquisitions.
The group’s activity since June 30, 2024, includes the establishment of a new platform in the VMS sector and the increase of its stake in Ookam to 100%. Additionally, CHAPTERS spun off ENTRO Group, a subsidiary focused on technical services for industrial access, security, and fire protection systems. CEO Jan Mohr emphasized the company’s commitment to investing in the VMS space and the creation of Altamount, a new platform in the governance, risk, and compliance software sector.
As of October 18, 2024, CHAPTERS Group AG reported that its 45 operating companies generated revenues of €107 million and an adjusted EBITDA of approximately €28 million for the full year 2023. The outlook for 2024 is stable to slightly positive regarding the revenue and EBITDA of these companies, with CHAPTERS Group AG’s share of EBITDA standing at roughly 78%.
The report also provided financial details on the group’s debt and investments. The net financial debt is expected to be around €50 million by the end of the year, with shareholder loans from CHAPTERS Group AG to platform companies projected to reach approximately €135 million. The investment in minority interests is valued at €20.7 million, excluding the stake in Software Circle plc, which has a current market value of about €32.7 million. Lastly, CHAPTERS Group AG’s liquid funds, including its securities portfolio, totaled nearly €78.4 million as of the report’s date, with an outstanding perpetual bond amount of €15.5 million.
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