Substrate AI beats forecasts in 2024 and closes with 24.2 million euros in revenues and 4.9m positive Ebitda

The company has grown strongly in all of its business areas

Madrid, January 2025. Substrate AI, the Spanish artificial intelligence company listed on BME Growth, has grown in all its business areas in 2024 to reach €24.2m in total revenues and a positive Ebitda of €4.9m in unaudited comparable data. This represents a growth of 75% in revenues and 236% in Ebitda which stabilizes the positive trend of 2024 against the losses of previous years and certifies the company's objective of accompanying the strong growth with a growing positive Ebitda.

The good results of 2024 have been supported by the growth of all the business areas in which the company that buys and scales companies around artificial intelligence works. These areas are mainly healthcare, Human Resources, agritech and edtech.

"We are very pleased with the results obtained in 2024, which corroborate the work done by the entire Substrate AI team and its respective subsidiaries and investees. These results mark the path of what Substrate AI will be in the coming years, a company that invests, buys and scales companies around artificial intelligence with a strong balance sheet and with greater investment capacity every day. In this sense, it is worth highlighting the transformation that the company will undergo when the "AI city", presented in Talavera de la Reina, becomes a reality. From there we will accelerate companies in the healthcare sector that have AI at their core and we will provide computing services to hundreds of companies, positioning Spain at the forefront of the European AI strategy." notes José Iván García, CEO of Substrate AI.

Substrate AI recently presented its "AI City" in Talavera de Reina together with the government of Castilla la Mancha and is closing all agreements to start building in the coming months. The project will include a state-of-the-art data center and an AI-oriented R&D center for the healthcare sector. In addition, the company announced a few weeks ago the incorporation in the Marf of a €10 million promissory note program that will help diversify funding sources and better face its new growth phases.

Substrate AI, which was listed on BME Growth in May 2022, operates as a holding of companies that apply and develop artificial intelligence in their sectors with a focus on creating efficiencies that drive the economy on its path towards sustainability and emission neutrality, promoting sector champions in the use of AI in sectors such as health, human resources or agritech. The company is launching its "AI City" in Talavera de la Reina (Toledo) with the support of the regional government of Castilla la Mancha.