Akwel (AKW) Q4 2024 TU earnings summary

Executive summary

• 2024 consolidated revenue was €989.0M, a decrease of 7.3% compared to 2023.

• Net cash position at year-end was €145.0M, up €4.5M from September 30, 2024.

• Activity decline accelerated in the second half, with a significant Q4 drop of 13.5%.

Financial highlights

• Q4 revenue was €231.2M, down 13.5% year-over-year; full-year revenue fell 7.3%.

• Net cash position increased despite €10.8M in Q4 investments.

• Positive foreign exchange impact of €2.2M for the year; Q4 saw a €0.5M negative impact from the US dollar.

Outlook and guidance

• Current operating margin expected to decrease by around 2 points for 2024.

• Activity in 2025 anticipated to decline at a rate similar to 2024, reflecting ongoing market weakness.