Arlandastad Group (AGROUP) Q4 2024 earnings summary

Executive summary

• Revenue for 2024 was 338.7 MSEK, down from 421.7 MSEK year-over-year, with a net loss of -87.6 MSEK, improved from -127.4 MSEK.

• Decline in revenue mainly due to fewer events and reduced airport traffic; cost-saving measures implemented.

• Realized property value changes of 15.2 MSEK and unrealized gains of 45.6 MSEK supported results.

• Major projects completed include a 10,000 sqm bakery for Bake My Day and a 1,700 sqm building for Bankomat.

• No dividend proposed for 2024, in line with policy to reinvest in development.

Financial highlights

• Q4 revenue was 91.8 MSEK (124.7), with a gross profit of 5.0 MSEK (39.3) and net loss of -30.1 MSEK (20.2).

• Full-year gross profit was 28.3 MSEK (111.9), mainly due to lower operational revenue.

• Cash flow for the year was -70.4 MSEK (-160.1), with cash at year-end of 163.8 MSEK.

• NAV per share was 84.7 SEK (86.0); market value of property portfolio at 6,638 MSEK.

• Loan-to-value ratio at 24% (25%), solid equity ratio at 59% (61%).

Outlook and guidance

• Focus remains on accelerating property development, improving profitability, and cost control.

• Additional organizational efficiency measures initiated in early 2025.

• No dividend planned; cash flow to be used for further project development.