ALEGF - Allegro.eu S.A. (ALEGF) Q4 2024 Earnings Call Transcript

2025-03-14 01:53:04 ET

Allegro.eu S.A. (ALEGF)

Q4 2024 Earnings Conference Call

March 13, 2025 06:00 ET

Company Participants

Tomasz Pozniak - Director of Investor Relations

Roy Perticucci - Group Chief Executive Officer

Jonathan Eastick - Group Chief Financial Officer

Conference Call Participants

Tiron Cesar - Bank of America

Luke Holbrook - Morgan Stanley

Roman Reshetnev - Goldman Sachs

Andrew Ross - Barclays

Mia Strauss - BNP Paribas Exane

Presentation

Operator

Ladies and gentlemen thank you for standing by. I am Yota [ph], your chorus call operator. Welcome and thank you for joining Allegro Group Earnings Call and Live Webcast to present and discuss the Fourth Quarter 2024 Results. All participants will be in a listen-only mode and the conference is being recorded. The presentation will be followed by a question-and-answer session. [Operator Instructions]

At this time, I would like to turn the conference over to Mr. Tomasz Pozniak, Investor Relations Director. Mr. Pozniak, you may now proceed.

Tomasz Pozniak

Thank you, Yota [ph] and welcome to everyone on our call. Let me introduce the presenters of today. Roy Perticucci, the CEO of Allegro, who will provide you with an overview of the full year and fourth quarter business highlights; and Jon Eastick, our CFO, who will guide you through financials and the management outlook. Roy will conclude the presentation with key takeaways.

As usual, our results presentation is available for download from our investor's webpage at allegro.eu. You may also download these slides from the link available on the webcast screen. As a reminder, today's presentation and discussion contains forward-looking statements. Our actual results could differ materially from the expectations expressed in such statements. Please make sure you review the full disclaimer on Slide number 2. Also please note this presentation and the Q&A session are being recorded and will be available for a replay on our website at allegro.eu.

And with this, I would like to hand over to our CEO, Roy. The floor is yours.

Roy Perticucci

Thanks very much, Tomasz. It's my pleasure to present to you for the third and final time as Chief Executive of Allegro, the annual results this time for 2024. Before I kick off with the presentation as a whole, I should say that -- remind all of you that I'm stepping down as the CEO at the AGM in June. And I'd like to confirm again here that the process is well advanced and every step is being taken to ensure that a new CEO will be nominated in time for a smooth transition.

Now on to the annual results highlights for 2024. We crossed the PLN60 billion threshold just in time for our 25th anniversary in early December of last year and we closed the year with an overall PLN64 billion GMV for the group. Revenue -- GMV grew overall by 9.6%, revenue by 6.7% and adjusted EBITDA grew by 17.9% to around PLN3 billion. CapEx, as we promised would do, inflected last year and increased by 31% and ended the year at PLN600 million. Overall, the EBITDA performance, I think, reflects overall the margin progress from advertising growth and continued work on Fit to Grow with some of those savings fully annualizing....

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