APPLUS SERVICES S.A.

Latest Results (16.04.2026):

APPLUS SERVICES S.A. — Q4 2023 (year ended 31 December 2023): The Group reported full-year 2023 results showing revenue growth to €2,057,916 thousand (€2.058bn) and strong operating cash generation, but lower operating profit and attributable net income versus 2022 after significant impairment charges and higher financial costs. The consolidated financial statements were audited with an unqualified opinion for the year ended 31 December 2023.

Revenue

Total revenue for the year 2023 was €2,057,916 thousand, up from €1,898,514 thousand in 2022 (≈+8.4%).

Operating performance

EBITDA-like measure (operating profit before depreciation/amortisation and others) was €336,125 thousand (2022: €317,345k). Reported operating profit after D&A and impairments fell to €110,053 thousand (2022: €135,265k), impacted by depreciation/amortisation (€179,376k) and impairment/gains & losses on disposals (-€37,277k).

Net profit and attributable earnings

Profit before tax was €68,170 thousand (2022: €102,028k). Net consolidated profit was €33,538 thousand (2022: €61,914k). Profit attributable to APPLUS SERVICES S.A. shareholders was €20,191 thousand (2022: €48,600k).

Earnings per share

Basic earnings per share for the full year were €0.16 (2022: €0.36). From continuing operations basic EPS was €0.20 (2022: €0.44).

Impairments and key charges

The Group recognised impairment and related losses amounting to €37,277 thousand in 2023, including a €25 million impairment on an item of goodwill noted in the audited disclosures, which materially affected operating profit.

Financial result and tax

Net financial result was a charge of €41,665 thousand (2022: €33,084k), which weighed on pre-tax profit. Corporate income tax expense for 2023 was €28,718 thousand (2022: €29,117k).

Cash flow and liquidity

Operating cash flow (net) was strong at €323,794 thousand. Cash and cash equivalents at 31/12/2023 were €203,553 thousand (31/12/2022: €183,010k). Net change in cash during 2023 was +€20,543k.

Financing, debt and capital actions

Reported obligations and bank borrowings totalled €881,165 thousand (non‑current €831,140k + current €50,025k). Share buybacks and dividends in 2023 included share buyback cash outflow of €36,103k and parent dividends paid of €20,628k. Treasury shares position was reduced to 1,030 thousand euros in the equity table.

Comprehensive income and non-controlling interests

Total comprehensive income for 2023 was €1,777 thousand (2022: €81,787k). Exchange translation effects drove a negative other‑comprehensive result; non‑controlling interests received €13,800k of the year’s comprehensive income.

Audit opinion

The consolidated financial statements for the year ended 31 December 2023 were audited by Deloitte, which issued an unqualified opinion noting key audit matters including goodwill and intangible asset impairment, recovery of deferred tax assets and provisions for tax and litigation (as disclosed in the audited notes).