Keyrus Progiware: Financial results and outlook for 2024

Keyrus Progiware announced a 4.3% decline in its revenue in 2024, reaching €354.6 million. This decline is mainly due to a decrease in demand in the Key Accounts segment. Despite an uncertain economic environment, the group saw growth of 10.4% in the Mid-Market segment thanks to its subsidiary Absys Cyborg. Current operating income rose to €15.0 million, compared to €17.7 million the previous year, resulting in a drop in net income to €0.8 million.

Net cash decreased slightly to €46.3 million, while net financial debt fell to €34.3 million. Keyrus maintained its strategic investments with a view to development focused on data, AI, and digital. The company plans to strengthen its position in the French market, particularly in the mid-market segment, thanks to growth in recurring revenues and SaaS partnerships.