Administer (ADMIN) Q4 2024 earnings summary

Executive summary

• Achieved a significant turnaround in profitability, with EBITDA up 93% year-over-year to €5.5 million, driven by a profitability program and revised strategy focused on synergies, efficiency, and customer experience.

• Implemented a renewed strategy focused on profitable growth, operational synergies, and customer experience.

• Completed a profitability program, resulting in substantial improvement in financial results.

• Acquired a majority stake in Kuntalaskenta and executed several smaller acquisitions, expanding public sector opportunities and regional presence.

• Prepared for sustainability reporting and established a comprehensive responsibility program.

Financial highlights

• Full-year 2024 revenue was €74.7 million, down 1.6% year-over-year; Q4 revenue grew 2.2% to €18.7 million.

• EBITDA for 2024 was €5.5 million (7.4% margin), up 93.1% from €2.8 million (3.8% margin) in 2023; Q4 EBITDA increased 6.6% to €0.9 million.

• Operating profit (EBIT) for 2024 was -€1.3 million, improved from -€3.0 million in 2023, impacted by €4.2 million in goodwill amortization and €0.6 million in one-time impairments.

• EPS for 2024 was -€0.16, up from -€0.27 in 2023; ROE (rolling 12 months) at -8.8% versus -14.1% last year.

• Board proposes a dividend of €0.05 per share for 2024.

Outlook and guidance

• Expects 2025 revenue between €72–78 million and EBITDA margin of 7–10%.

• Focus remains on further profitability improvement, strategic execution, and leveraging digitalization and AI.

• Targets continued investments in growth, both organic and inorganic.