Making Science achieves recurring EBITDA of €10.6 million in 2024
Posted: Thu Dec 26, 2024 6:31 am
Making Science achieves recurring EBITDA of €10.6 million in 2024Making Science, a digital marketing and technology consultancy, has presented its financial results for the first nine months of 2024 . The company reported recurring EBITDA of €10.6 million , an increase of 94% compared to the €5.5 million generated in the same period of the previous year. This growth reflects Making Science's focus on profitability and operating leverage . In the third quarter of 2024 , the company achieved recurring EBITDA of €3.3 million , up 87% compared to the third quarter of 2023.
Gross margin increased by 14.5% to €52.1 million , while revenues grew by 12.9% to €194 million . This solid performance is attributed to the growth of the Core Business , driven by the increase in the International Business , which grew by 17.5% and represents 48% of the Core Business gross margin, while Spain contributes the remaining 52% .
Another relevant aspect is that the Consolidated Business , the Core Business and e-Commerce are recovering their profitability ratio , returning to 20% of recurring EBITDA on gross margin. All segments of the activity show positive results, with e-Commerce maintaining a positive recurring EBITDA.
Internationalization: key to future growth
The international segment has been a key growth driver, with revenues up 20.1% and gross margin up 17.5% , driven by operations in markets such as France, Georgia, Italy, the Nordics and the UK . Recurring EBITDA for the international business reached €3 million ( +52.3% vs. 9m2023), demonstrating the strength of the company’s internationalisation strategy. Adjusting for the US effect on the international side, recurring EBITDA would have been € 4.9 million , indicating that the company’s investments are generating value. The North American market is estimated to reach break-even by the end of 2024 .
In France, Italy and the Nordic countries , Making Science is growing and gaining new clients, both local and international. This internationalisation is one of the company's great strengths, allowing it to support clients globally through its direct presence in 15 countries and an additional 10 through partnerships.
Making Science maintains its 2024 guidance , targeting recurring EBITDA of €14-15 million and consolidated revenues of €270-290 million . The company continues to focus on profitability , cash flow generation and debt reduction , while consolidating its leadership in proprietary technology solutions.
José Antonio Martínez Aguilar , CEO and Founder of Making Science, said: “The results of the first nine months of the year confirm our ability to achieve the objectives set for 2024. The strong evolution of our international business and the commitment to advanced technological solutions allow us to continue consolidating our position as a benchmark in digital acceleration .”
"As we have mentioned on previous occasions, the recurrence and strength of our profit and loss account is based on our customer base, their loyalty, the international diversification of the business, the technological development and innovation that differentiates us from our competitors, and the extraordinary team of professionals we have," adds Martínez Aguilar.
2024: A key year of operations to support growth
During 2024 , Making Science has completed a series of key operations that reinforce its growth strategy and financial strength . In October, the company finalized the payment of its €12 million bond issuance program , registered on the Alternative Fixed Income Market (MARF) in 2021. This operation was carried out in two phases: in May 2024 , it repurchased bonds worth €8.6 million , and in October 2024 , it settled the remaining €3.4 million . The completion of this program strengthens Making Science's financial structure, allowing it to face its third phase of growth.
In addition, the company obtained a syndicated loan of 9 million euros , led by EBN Banco , to finance its international expansion. This operation is complemented by the joint investment with the SOPEF II fund , which will allocate up to 40 million euros to expand its Marketing & AdTech subsidiary globally.
In June 2024 , Making Science also carried out a capital increase that allowed it to raise €4.7 million , adding more than 450 new national and international investors . It also acquired the remaining 19% of Agua3 , consolidating its control over this key company for the development of its flagship technological solution: Ad-Machina . Finally, it completed the acquisition of 23.86% of United Communications Partners (UCP) , thus reaching 100% participation in this subsidiary, strengthening its presence in the four Nordic countries .
All these operations are essential to meet the company's long-term guidance , published in the " Plan 2027 ", which shows EBITDA growth of between 20% and 24% compounded until 2027 , to reach a figure of between 23 and 27 million euros . The three fundamental drivers on which the business plan is based are:
Growth of digitalization , data and artificial intelligence
Growth of Big Tech platforms in which Making Science is a reference partner
Geographic mix of revenues, with expected growth in the international segment and the United States at rates above 25% .
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Gross margin increased by 14.5% to €52.1 million , while revenues grew by 12.9% to €194 million . This solid performance is attributed to the growth of the Core Business , driven by the increase in the International Business , which grew by 17.5% and represents 48% of the Core Business gross margin, while Spain contributes the remaining 52% .
Another relevant aspect is that the Consolidated Business , the Core Business and e-Commerce are recovering their profitability ratio , returning to 20% of recurring EBITDA on gross margin. All segments of the activity show positive results, with e-Commerce maintaining a positive recurring EBITDA.
Internationalization: key to future growth
The international segment has been a key growth driver, with revenues up 20.1% and gross margin up 17.5% , driven by operations in markets such as France, Georgia, Italy, the Nordics and the UK . Recurring EBITDA for the international business reached €3 million ( +52.3% vs. 9m2023), demonstrating the strength of the company’s internationalisation strategy. Adjusting for the US effect on the international side, recurring EBITDA would have been € 4.9 million , indicating that the company’s investments are generating value. The North American market is estimated to reach break-even by the end of 2024 .
In France, Italy and the Nordic countries , Making Science is growing and gaining new clients, both local and international. This internationalisation is one of the company's great strengths, allowing it to support clients globally through its direct presence in 15 countries and an additional 10 through partnerships.
Making Science maintains its 2024 guidance , targeting recurring EBITDA of €14-15 million and consolidated revenues of €270-290 million . The company continues to focus on profitability , cash flow generation and debt reduction , while consolidating its leadership in proprietary technology solutions.
José Antonio Martínez Aguilar , CEO and Founder of Making Science, said: “The results of the first nine months of the year confirm our ability to achieve the objectives set for 2024. The strong evolution of our international business and the commitment to advanced technological solutions allow us to continue consolidating our position as a benchmark in digital acceleration .”
"As we have mentioned on previous occasions, the recurrence and strength of our profit and loss account is based on our customer base, their loyalty, the international diversification of the business, the technological development and innovation that differentiates us from our competitors, and the extraordinary team of professionals we have," adds Martínez Aguilar.
2024: A key year of operations to support growth
During 2024 , Making Science has completed a series of key operations that reinforce its growth strategy and financial strength . In October, the company finalized the payment of its €12 million bond issuance program , registered on the Alternative Fixed Income Market (MARF) in 2021. This operation was carried out in two phases: in May 2024 , it repurchased bonds worth €8.6 million , and in October 2024 , it settled the remaining €3.4 million . The completion of this program strengthens Making Science's financial structure, allowing it to face its third phase of growth.
In addition, the company obtained a syndicated loan of 9 million euros , led by EBN Banco , to finance its international expansion. This operation is complemented by the joint investment with the SOPEF II fund , which will allocate up to 40 million euros to expand its Marketing & AdTech subsidiary globally.
In June 2024 , Making Science also carried out a capital increase that allowed it to raise €4.7 million , adding more than 450 new national and international investors . It also acquired the remaining 19% of Agua3 , consolidating its control over this key company for the development of its flagship technological solution: Ad-Machina . Finally, it completed the acquisition of 23.86% of United Communications Partners (UCP) , thus reaching 100% participation in this subsidiary, strengthening its presence in the four Nordic countries .
All these operations are essential to meet the company's long-term guidance , published in the " Plan 2027 ", which shows EBITDA growth of between 20% and 24% compounded until 2027 , to reach a figure of between 23 and 27 million euros . The three fundamental drivers on which the business plan is based are:
Growth of digitalization , data and artificial intelligence
Growth of Big Tech platforms in which Making Science is a reference partner
Geographic mix of revenues, with expected growth in the international segment and the United States at rates above 25% .
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Subscribe to our newsletter!
Follow MarketingDirecto.com on WhatsApp
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December 25, 2024
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