Mon Courtier Energie Groupe reports revenue growth of +18% in 2024 to €24.7 million and updates its outlook Investing.com
- Revenue growth driven by the business of energy brokers in France, which reached 23.7 million euros
- Acquisition of more than 11,000 new clients in 2024, bringing the portfolio to 45,000 accounts by the end of the year
- Slower-than-expected international expansion and energy transition offerings impacting operating profitability in 2024.
- A return to operational profitability is expected in 2025
- The initial financial targets for 2025 (€40 million in revenue and €5 million in operating income) have now been pushed back to 2028.
- The strategic action plan to achieve the financial goals for 2028 will be presented with the annual results for 2024
- A solid cash position of EUR 7.6 million as at 31 December 2024 compared to EUR 7.9 million as at 30 June 2024.
BORDEAUX, France–(BUSINESS WIRE)–Regulatory news:
Mon Courtier Energie Groupe (ISIN code: FR001400H3A0 – code: ALMCE)B2B energy brokerage, today announces its sales for 2024 and provides an update on its outlook.
Charlie EVRARD, President and CEO of Mon Courtier Energie Groupestates: “The development of our business and service offering required significant investments that affected our operational profitability from the first half of the year and will continue to affect our financial results in 2024. At the same time, the strong momentum in our core business – energy brokerage – demonstrates the robustness of our brand license branch model, which we will continue to use while we wait for our international activities to gain momentum, as we have not yet reached critical mass In Spain and Belgium, we are now focusing on developing larger clients in these markets in order to gradually built a return on our initial investments, which were necessary to break into these high-potential markets.We are currently developing a strategic and operational action plan to restore the trajectory of profitable growth will result in the postponement of our financial goals for 2028.
We are confident that, thanks to the resilience of our business model, our innovative offerings, our unique expertise in energy brokerage and our 45,000 client base, we have strong leverage to continue profitable growth in 2025.”
Business development in 2024
Revenue growth of 18%, driven by brokerage activities in France
The Group’s revenue in 2024 was EUR 24.7 million (+18% compared to 2023), with: 96% from energy intermediaries, 2% from energy transition services in France and 2% from international activities.
In the second half of 2024, revenue reached €12.9 million, compared to €11.8 million in the first half of 2024, reflecting solid momentum, particularly towards the end of the year, driven by the refinement of the commercial teams engaged over the past 18 months.
This strong commercial performance results from the acquisition of 11,000 new B2B clients in 2024, including 6,000 in the second half of 2024, bringing the total client base to 45,000 companies as at 31 December 2024, mainly located in France.
At the same date, the Group’s network consisted of 32 branches (compared to 30 at the end of 2023) and 140 brokers, with more than 40 new brokers joining Mon Courtier Energie Groupe branches in 2024.
International expansion slower than expected
In 2024, international revenue reached approximately 423 thousand euros (compared to 145 thousand euros in 2023), mainly generated in Spain. Although activity in Spain has more than doubled, its contribution to Group revenue (2%) remains below expectations, due to limited brand awareness in this new market, which has so far prevented access to large corporate clients.
Almost two years after launching its commercial operations, the Spanish branch of Mi Energia Manager, with around ten brokers in its five Spanish branches in Madrid, Barcelona, Galicia, Extremadura and Andalucia, has expanded its client base to 1,400 B2B clients as of December 31, 2024. (+500 compared to 2023), primarily very small companies. In 2025, the priority will be to acquire larger customers (small and medium) in order to increase the average billing.
In addition, in 2024, Mon Courtier Energie Groupe entered the Belgian market by establishing a subsidiary in Liège, hiring four brokers and starting operations in the fourth quarter of 2024.
Energy transition services are gradually increasing after offering adaptations
At the end of 2023, Mon Courtier Energie Groupe expanded its portfolio of energy transition services with new offerings, including mobility audits, energy audits, photovoltaic audits and energy transition advisory services. However, the integration of these new services within the branch network and their commercialization took longer than expected, generating 434 thousand euros of revenue in 2024.
The reorganization of commercial access to these services should accelerate revenue generation in 2025.
Cash position
The cash position of EUR 7.6 million as of December 31, 2024 enables the Group to confidently continue its business development and the implementation of the strategic action plan that will be presented with the annual results for 2024.
Strategy and perspective
Postponement of financial goals for 2025 to 2028
At the time of its IPO in spring 2023, the Group announced a revenue target of over EUR 40 million and an operating income of around EUR 5 million by 2025, along with plans to develop a network of at least 40 branches.
However, significant investments made in international expansion, Energy Transition offer design and workforce expansion will negatively impact the Group’s 2024 operating profitability and lead Mon Courtier Energie Groupe to revise its 2025 financial targets.
The group is now targeting revenue growth in 2025 of between 5% and 10% and a return to operational profitability.
The initial 2025 financial targets of €40 million in revenue and €5 million in operating income are now expected to be reached by 2028.
Strategic action plan for achieving medium-term goals
In order to drive future growth and meet its targets for 2028, Mon Courtier Energie Groupe is currently developing a strategic action plan focused on rationalizing costs, a more targeted commercial approach, especially in Spain, and refocusing the Energy Transition offering on solutions where the Group has the strongest expertise.
The group plans to detail its strategic action plan during the announcement of its 2024 annual results, scheduled for April 22, 2025.
Financial calendar for 2025
Annual results for 2024 and presentation of the strategic action plan: April 22, 2025
Annual General Assembly: June 19, 2025
Income for the half year 2025: July 17, 2025
Half-year results in 2025. October 16, 2025
() Data are subject to change.
About Mon Courtier Energie Groupe
Founded in Bordeaux in 2017, in just a few years Mon Courtier Energie Groupe has become a major player in energy brokerage and the leading French network in the B2B market. The Group’s mission is to help companies globally manage their energy budget to reduce or optimize their gas and/or electricity bills. Mon Courtier Energie Groupe’s service offering includes mediation and advice on energy purchases, contract management and optimization, and energy transition guidance.
Mon Courtier Energie Groupe relies on the expertise of more than 200 employees at headquarters and authorized agencies in the regions.
For further information, visit www.moncourtierenergie.com.
Disclaimer Regarding Forward-Looking Statements and Risk Factors
This press release contains forward-looking statements, not historical data, and should not be construed as a guarantee that the facts and data stated will occur. These forward-looking statements are based on data, assumptions and estimates that Mon Courtier Energie Groupe believes to be reasonable. Mon Courtier Energie Groupe operates in a competitive and rapidly changing environment. The Company is therefore unable to predict all risks, uncertainties or other factors that may affect its business, their potential impact on its business, or the extent to which the materialization of any risk or combination of risks could lead to results materially different from those expressed in any forward-looking statement. Mon Courtier Energie Groupe draws your attention to the fact that forward-looking statements are in no way a guarantee of its future performance, and that its actual financial condition, operating results and cash flows, as well as developments in the industry in which Mon Courtier Energie Groupe business, may differ materially from those anticipated or suggested by the forward-looking statements contained herein. Furthermore, even if the financial position, results of operations, cash flows and development of the sector in which Mon Courtier Energie Groupe operates are consistent with the forward-looking information contained in this document, such results or development may not be a reliable indicator of future results or development of Mon Courtier Energie Groupe. Readers are urged to carefully examine the risk factors described in the registration document approved by the Autorité des Marchés Financiers (“AMF”), which is available free of charge on the Company’s website. If any or all of these or other risk factors materialize, Mon Courtier Energie Groupe shall in no event be liable for any decision made or action taken in relation to the information and/or statements contained in this press release, or for any what damage is associated with it. This information is provided only as of the date of this press release. Mon Courtier Energie Groupe undertakes no obligation to update this information or the assumptions on which it is based, except in the event of any legal or regulatory obligation relating to it.
This press release and the information it contains do not constitute an offer to sell or the solicitation of an offer to buy or subscribe for Mon Courtier Energie Groupe shares in any country.
See the original version on businesswire.com: https://www.businesswire.com/news/home/20250116850293/en/
Mon Courtier Energie Groupe
Charlie Evrard
President and Chief Executive Officer
investiseurs@moncourtierenergie.com
NewCap
Mathilde Bohin / Dusan Oresansky
Investor relations
mce@newcap.eu
Phone: +33 (0)1 44 71 94 94
NewCap
Nicolas Merigeau
Relations with the media
mce@newcap.eu
Phone: +33 (0)1 44 71 94 98
Source: Mon Courtier Energie Groupe
