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ANNUAL REPORT 2024

TAKE A MOMENT TO KNOW MORE ABOUT ASCENDUM

In 2024, Ascendum maintained the 1.3 billion euros turnover threshold, an EBITDA of €168 million, and a net profit margin of 7%. These accomplishments underscore our resilience despite a challenging global landscape marked by economic uncertainty, intensified global conflicts, and industry slowdowns.

We celebrated our 65th anniversary by embracing the future with great pride, as our digital transformation gained momentum. This initiative is reshaping our operations and bringing new customer interactions, enhancing service performance and operational efficiency.
We look ahead with confidence, committed to continued innovation and growth — 65 years and GO'ing.

We invite you to take a moment to really get to know more about Ascendum by exploring the detailed insights into our business achievements along this Annual Report '24.

Go to Annual Report'24

MESSAGE FROM THE CHAIRMAN OF THE EXECUTIVE BOARD OF DIRECTORS

“Ascendum maintained a solid financial position, sustaining €1.3 billion in turnover, an EBITDA of €168 million, and a 7% net profit margin. Our strategic focus on efficiency, cost control, and digital transformation has been key to our resilience. We remain committed to innovation, with our Lighthouse Program reshaping the way we work and engage with our customers and enhancing service performance.”

João Manuel de Pinho Mieiro

CEO of Ascendum Group

Dear Shareholders,

 

As we ended our record-breaking year ever, there is no other way to start this message than with a sincere appreciation for the hard work and commitment from our over than 1,600 employees, who made sure that we exceeded last years’ historical performance once more, and by a large margin.

 

To our shareholders and financial partners, I would also like to extend my gratitude for your trust in Ascendum as your business partner in the different markets where we operate.

 

Your continued belief in our vision, allow us to grow and seize new opportunities. Ascendum had an unprecedented year in 2023, with total sales exceeding the 1.3 billion euros highmark (8.3% more than in 2022). We also improved our profitability levels, with a 186 million euros EBITDA, a net profit margin of 8%, and stable financial indicators - Equity/Assets of 38% and Net debt/EBITDA of zero. These results were possible even with the challenging and uncertain conditions we faced in 2023 (geopolitical, macroeconomic, FX and market wise).

 

2023 was marked by the continuous consolidation of important investments. Through our digital transformation program and initiatives, that enhance the way we work and connect with our customers, optimizing our service performance, every step of their journey.

 

I am also very excited to share a big achievement from 2023, a true reflection of how our “Expect More” motto is going stronger: Ascendum won the Best Retail & Distribution Project category at the Portugal Digital Awards® 2023, with its GenAI - New Service AI Assistant Project. These awards recognize companies that are driving the digital transformation of their businesses, keeping pace of market innovation.

 

As we continue to evolve and innovate, I could not be prouder of how Ascendum is pioneering the path to a more efficient, modern and sustainable company.

 

2023 was quite a year and you can still expect more from us!

 

Thank you for your never-ending commitment and dedication to Ascendum.

Main Economic, Financial And Operational Indicators (M€)

Total Sales

1,260M
1,301M
2024
2023

EBITDA

168
186

EBIT

124
148

EQUITY

364
323

Total Sales Evolution by Geography (M€)

212
223
Portugal
107
111
Spain
429
403
USA
252
269
Türkiye
234
204
Central Europe*
67
51
Mexico
2024
2023
*Austria, Hungary, Czechia, Slovakia, Romania, Croatia, Slovenia, Moldova and Bosnia and Herzegovina.

people distribution

total employees 1802

PT
SP
USA
TR
*CEG
MX

*CEG - Central Europe Group, includes: Austria, Czechia, Hungary, Croatia, Romania, Slovakia.

Service
Sales
Finance and Accounting
Human Resources
IT
Marketing, Brand&Communication
Others

ANNUAL REPORT 2024

The Annual report is available here for viewing or downloading. Below you will also find the editions from the previous years.

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