Agtira (AGTIRA) Q4 2024 earnings summary

Executive summary

• 2024 was a year of transformation with both challenges and breakthroughs, including the launch of a new production facility in Haninge and a landmark 10-year supply agreement with Lidl Sverige, starting with the Kramfors site.

• Despite production setbacks from plant diseases, productivity recovered by year-end, and Q4 marked a turning point with record sales.

• Strategic partnerships, cost-saving measures, and a sharpened focus on core vegetable production have established a stable foundation for future growth.

Financial highlights

• Q4 2024 net sales rose 36% year-over-year to 11.4 MSEK, driven by higher productivity and the Haninge facility launch.

• Full-year 2024 net sales fell 13% to 31.0 MSEK due to earlier production issues and lower prices.

• Q4 EBITDA was -12.8 MSEK (vs. -7.2 MSEK in Q4 2023); full-year EBITDA was -37.5 MSEK (vs. -24.4 MSEK in 2023).

• Q4 EPS was -0.54 SEK (vs. -0.61 SEK); full-year EPS was -1.75 SEK, unchanged from 2023.

• Q4 cash flow was -16.2 MSEK; year-end liquidity was 449 TSEK, down from 47.1 MSEK a year earlier.

Outlook and guidance

• Launch of the Kramfors facility in February 2025 will support the Lidl contract and expand production area to 16,000 sqm.

• Cost optimization and efficiency programs target 10–12% reduction in operating expenses for 2025.

• Strategic focus on core vegetable production, with divestment of fish operations and new agreements to manage surplus volumes.