New CEO Announcement
Pierre-Antoine Vacheron has been announced as the new group CEO, effective March 1, 2025. He brings extensive experience and is expected to drive sustainable value creation and performance improvements.
Strong Free Cash Flow Management
Despite challenges, the company delivered a free cash flow of €201 million in 2024, including €139 million in nonrecurring expenses linked to Power24.
Successful Execution of Power24
Power24 resulted in cash cost savings of €220 million, with a full run rate expected by the end of 2025. The savings were visible in operating costs, CapEx, and rationalization costs.
Partnerships and Growth Drivers
New partnerships and products, including joint ventures with Credit Agricole and embedded payments solutions, are expected to drive future growth.
Resilient Revenue Performance
The company reported €4.6 billion in revenues for 2024, representing 0.5% growth, despite a challenging macroeconomic environment.