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Star7
Earnings Release • Jul 31, 2024
4175_rns_2024-07-31_5e5aee34-d669-4b67-92a7-3484d21bf528.pdf
Earnings Release
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PRESS RELEASE
STAR7: PRELIMINARY REVENUES FOR THE FIRST HALF OF 2024 UP 18% COMPARED TO THE FIRST HALF OF 2023
Growth is 100% organic Significant increase in overseas revenues, driven by the USA and Brazil Post-integration rationalisation of CAAR completed
Valle San Bartolomeo (Alessandria), 31 July 2024 – STAR7 (EGM: ticker STAR7) announces that the Group's Preliminary Revenues for the first half of 2024, not yet audited, stood at approximately €60 million, marking an increase of circa 18% compared to €51 million in the first half of 2023. STAR7 provides an integrated range of product-information services, from product and process engineering support to the creation and management of technical and marketing content, translation, printing and virtual experience.
The key factor in the progress achieved in the first six months of 2024 can be identified in significant organic growth in the USA and Brazil, driven by the Product Knowledge and Engineering service lines.
STAR7 has also confirmed its ability to activate all available organic growth levers, through the continuous acquisition of new customers and an effective cross-selling and upselling process in the services offered to existing customers.
| Service Lines as a % of Group Revenues |
1H23 | FY23 | 1H24 Preliminary |
|---|---|---|---|
| Global Content | 35.9% | 35.9% | c. 34.1% |
| Experience and Product Knowledge |
29.0% | 29.0% | c. 34.2% |
| Printing | 16.7% | 15.5% | c. 11.3% |
| Engineering | 18.4% | 19.6% | c. 20.4% |
The geographical distribution of Preliminary Revenues for the first half of 2024 (with a weight of the Italian market equal to approximately 51%, compared to approximately 57% in the first half of 2023) is testament to the success of the strategy for the increasing internationalisation of STAR7.
| Geographical breakdown of Group revenues |
1H23 | FY23 | 1H2024 – Preliminary Data |
|---|---|---|---|
| ITALY | 57.2% | 53.2% | c. 51.2% |
| USA | 21.6% | 22.8% | c. 25.2% |
| BRAZIL | 14.1% | 17.1% | c. 18.1% |
| OTHER | 7.2% | 6.9% | c. 5.5% |
The complete figures of the Consolidated Half-Year Financial Report 2024 will be submitted for approval to the Board of Directors at its meeting on 27 September 2024, as per the Company's Financial Calendar.
Lorenzo Mondo, Chairman and Chief Executive Officer of STAR7, commented: "I believe that the growth of approximately €9 million that STAR7 has achieved in this first half of the year is significant not only in its amount, but also in its quality, considering the purely organic nature of the increase in revenues and the key contribution from the Engineering and Product Knowledge segments, against a backdrop of significant progress in the most relevant service lines.
"The results of this first half of 2024 therefore also confirm that our 'Integrale7 ' business model continues to work effectively, offering us the ability to cross-sell additional services to newly acquired customers.
"Behind these numerical results," the CEO continued, "are some fundamental forward steps that we have made in recent months. First, the completion of the integration of CAAR, having leased its business unit from the beginning of 2023. The clear benefits in terms of the increase in half-year revenues that we achieved in the Engineering service line in Brazil are just part of the positive repercussions that we expect to see as a result of the finalised integration process. Secondly, we have started to reap the benefits of the marketing campaign we launched last year in the US market. We also continue to work hard on the everincreasing internationalisation of our business. We have in fact just opened our new operating office in India, in Hyderabad, where we will gain an even more effective presence in meeting the localisation services needs of one of our most important Global Content clients."
This press release is available on the STAR7 website www.star-7.com (in the "Investor Relations/Press releases" section) and on the storage system for regulated information .
STAR7
For more than 20 years, STAR7 has served its customers as a leader in the product information sector. Support for product and process engineering, creating and managing technical content, as well as marketing, translation, printing and virtual experience: STAR7's range of services means it can assist its customers throughout the product life-cycle – from design to aftersales.
STAR7's hallmark has always been an approach combining specific know-how, technology and vision to offer the best possible solutions to the needs of customers and the global market. This approach has seen STAR7 strike major partnerships with leading international companies, establishing it as a reliable and credible global partner. STAR7 is part of the STAR Group network. www.star-7.com.
FOR MORE INFORMATION:
INVESTOR RELATIONS
Pierluigi Valletta, CFO, M&A and Investor Relations Manager Mob: +39 342 8606566 Email: [email protected]
Blue Arrow - IR Advisor Maria Grazia Mantini Mob: +41 78 723 6840 Email: [email protected]
MEDIA RELATIONS [email protected]
EURONEXT GROWTH ADVISOR
ALANTRA Capital Markets Mob: +39 334 6267243 Email: [email protected]