Results in line with expectations for VusionGroup in the first quarter of 2024

VusionGroup has published financial results for its first quarter 2024, marking growth of 12% with adjusted revenue of €178 million. This performance is aligned with the company's forecasts. Order intake reached 274 million euros, up 24%, representing the second best quarter in history for the company.

The North American market particularly contributed to this growth, with activities increasing particularly in the United States. In Europe, the situation is temporarily affected by the planned completion of deployment at a major customer. However, new contracts are expected to strengthen growth from 2025. VusionGroup also confirmed its annual targets, anticipating total adjusted revenue of around one billion euros for 2024.

Furthermore, the company expects a continued increase in order intake and an improvement in profitability. The Software Solutions and Services (VAS) business, although facing a challenging economic environment, shows signs of strong growth for recurring services, forecasting annual VAS revenue between €120 million and €140 million.