KN Energies (KNE1L) Q4 2024 earnings summary

Executive summary

• Revenue reached EUR 93.7 million in 2024, up 12% year-over-year, with EBITDA at EUR 49.3 million, up 38%.

• Net profit was EUR 15.4 million, a 34% increase, and adjusted net profit rose 16% compared to 2023.

• Major milestones included the acquisition of FSRU Independence, expansion into Germany, and a significant currency hedging gain.

• Liquid energy terminals saw a 17% drop in transshipment volumes, but revenue declined only 4.3% due to product mix and market adaptation.

• Sustainability initiatives advanced, with early CSRD/ESRS compliance, a 1.9% reduction in GHG emissions, and ESG transparency recognition.

Financial highlights

• Revenue: EUR 93.7 million (+12% vs 2023); EBITDA: EUR 49.3 million (+38% vs 2023).

• Net profit: EUR 15.4 million (+34%); adjusted net profit: EUR 13.9 million (+16%).

• EPS stable at EUR 0.04; P/E ratio improved to 5.8.

• Gross margin at 53%, EBITDA margin at 53%.

• Share price and market capitalization showed resilience and positive momentum through 2024.

Outlook and guidance

• Continued focus on expanding LNG operations in Europe and new energy projects.

• Ongoing investments in sustainability, hydrogen, and carbon capture initiatives.

• Market volatility and geopolitical risks remain key uncertainties.

• Long-term contracts and new subsidiary in Germany expected to drive growth.

• CapEx program planned at EUR 400 million through 2030, with diversified funding sources.