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Glamox (GLAM) investor relations material
Glamox Q4 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved strong growth in sales and profitability in Q4 and FY 2024, with adjusted EBITA up 54.1% in Q4 and 36.6% for the year, driven by major contract wins in Marine, Offshore & Wind (MOW) and operational improvements.
Order intake reached NOK 4,476 million for FY 2024, with total revenue of NOK 4,487 million and adjusted EBITA of NOK 670 million.
Both MOW and PBS divisions delivered strong performances, with MOW showing significant order intake growth from Navy and Offshore Wind contracts.
Continued execution of the Green Light strategy, focusing on growth, operational efficiency, digitalisation, and sustainability.
Robust business model with diverse revenue streams and resilience in challenging market conditions.
Financial highlights
Q4 2024 revenue grew 4.3% year-over-year to NOK 1,167 million; FY 2024 revenue up 5.3% to NOK 4,487 million.
Q4 2024 adjusted EBITA increased 54.1% year-over-year to NOK 174 million; FY 2024 adjusted EBITA up 36.6% to NOK 670 million.
Adjusted EBITA margin improved to 14.9% in both Q4 and FY 2024, up from 10.1% and 11.5% respectively.
Net cash flow from operating activities was NOK 283 million in Q4 and NOK 691 million for FY 2024; cash at year-end NOK 712 million.
Order stock at year-end increased 13.9% to NOK 1,529 million.
Outlook and guidance
Market fundamentals supported by energy savings, refurbishment, regulation, and connected lighting demand.
Continued focus on executing the Green Light Strategic Plan 2026, targeting growth in Light Management Systems and sustainability.
Long-term growth prospects remain positive, but near-term visibility is uncertain due to macroeconomic and geopolitical factors.
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