In the first 9 months of 2024, Astra Group demonstrated significant growth in financial indicators, which indicates the company's dynamic development and its strengthening position in the infrastructure software market.
Key financial results:
Revenue: RUB 8.6 billion, up 84% year-on-year.
KomNovosti
Shipments: RUB 10.1 billion, up 98% year-on-year, thanks to active business scaling and the development of a product and service approach.
AstraGroup
Adjusted EBITDA: RUB 2.4 billion, up 97% year-on-year.
KomNovosti
Adjusted net profit: RUB 2.4 billion, up 68% year-on-year.
KomNovosti
Investments in development: RUB 2 billion, up more than two and a half times compared to the first 9 months of 2023.
ComNews
The revenue growth is due to a more than fourfold increase in sales of ecosystem products (excluding Astra Linux OS) and a more than twofold increase in income from product support. The share of ecosystem products in revenue reached 27%, having increased almost two and a half times compared to the same period last year.
ComNews
Dividends
The management of PJSC Astra Group plans to recommend to the board of directors to allocate 550 million rubles for the payment of dividends for the first 9 months of 2024. This was reported by Deputy CEO for Economics and Finance Elena Borodkina at the Investor Day in Moscow.
Interfax
This proposal reflects the company's desire to ensure stable income for shareholders, despite significant investments in the development of the product line and business expansion. Earlier, following the results of the first quarter of 2024, Astra Group had already paid dividends in the amount of 7.89 rubles per share, which amounted to about 1.7 billion rubles.
AstraGroup
The recommendation to pay dividends for 9 months of 2024 will be considered at a meeting of the board of directors scheduled for November 20.
BCS Express
The company's shares are traded on the Moscow Exchange at a price of about 505 rubles per share. The payment of dividends can positively affect the investment attractiveness of the company and strengthen the confidence of shareholders.
What investors should pay attention to:
Seasonality of the business: The activities of Astra Group are seasonal, with a concentration of revenue in the fourth quarter, especially in December. This is due to the peculiarities of the planning and budgeting cycle of clients. About 50% of the company's revenue can come from the fourth quarter.
ComNews
Expansion of the product portfolio: In Q3, the company released an updated version of its flagship product, the Astra Linux 1.8 operating system, as well as a number of new products, including Astra Monitoring and Astra Cloud. This demonstrates the company's commitment to innovation and expansion of its offering to customers.
ComNews
Strengthening market positions: Significant cooperation agreements with Russian regions and leading companies from various sectors of the economy, such as VTB, ALROSA, Sber and Europlan, indicate the successful promotion of the company's products on the market.
ComNews
Team growth: The increase in the number of employees to 2.6 thousand people, of which more than 70% are IT specialists, demonstrates the company's investment in human capital and readiness for further growth.
ComNews
Overall, the financial results of Astra Group for 9 months of 2024 reflect the successful implementation of the growth strategy and strengthening of its market position. Investors should consider the seasonality of the business, as well as positive trends in expanding the product portfolio and strengthening partnerships.
