OSLO: Infront, a leading European provider of WealthTech software and market data, announced a 4% revenue increase to €133.8 million in its 2024 annual report, reflecting continued momentum in its long-term strategy. Adjusted EBITDA rose to €36.7 million, up from €30.9 million in 2023, driven by streamlined operations and product integration.
Financial Highlights
- Revenue Growth: €133.8 million, up 4% year-over-year.
- Adjusted EBITDA: €36.7 million, with a margin of 27.4%.
- Net Loss: Reduced to €2.9 million, improved from €10.4 million in 2023.
- Recurring Revenue: 96% of total revenue, underscoring stable customer subscriptions.
CEO Zlatko Vucetic attributed the results to three years of strategic consolidation, including the integration of Assetmax AG’s portfolio management tools and upgrades to trading infrastructure in Germany. The company also prepared for the EU’s Digital Operational Resilience Act (DORA), ensuring compliance ahead of its January 2025 implementation.
Product and Regional Performance
- Portfolio & Advisory: Fastest-growing segment, with double-digit growth.
- DACH Region: Contributed 53% of revenue, remaining Infront’s core market.
- Trading Solutions: Mid-single-digit growth, supported by platform enhancements.
ESG Initiatives
Infront advanced its environmental, social and governance (ESG) agenda in 2024:
- Environmental: Reduced Scope 1 and 2 emissions by 30% and 75%, respectively, and launched a carbon accounting tool.
- Social: Set a goal to achieve 30% female workforce representation by 2030 and introduced a Diversity, Equity, and Inclusion (DEI) Policy.
- Governance: Implemented mandatory compliance training and a Supplier Code of Conduct.
Challenges and Outlook
While Infront faces currency risks and competitive pressures, the board expressed confidence in its resilient business model. Plans for 2025 include further product innovation, cloud migration and expanding its WealthTech solutions.
Quote from CEO Zlatko Vucetic:
“With a solid foundation and clear strategic direction, Infront is poised to accelerate growth while delivering lasting value to clients and stakeholders.”
Infront serves 3,500 clients across Europe with market data and WealthTech solutions, employing over 400 staff in nine countries.