Beijer Alma (BEIA) Q4 2024 earnings summary

Executive summary

• Achieved record-high operating profit for the fourth consecutive year, with organic growth and stable demand across a diversified customer base despite weak European industrial conditions; strong performance in Asia and the Nordics, while Central Europe, especially Germany, remained weak.

• Order bookings rose 10% to MSEK 1,874 and net revenue increased 8% to MSEK 1,823 in Q4 2024.

• Adjusted operating profit (EBIT) grew to SEK 220 million, with a margin of 12.1% (up from 10.4%).

• Several strategic acquisitions completed, including Lacroix (France), Brissmans Brandredskap (Sweden), Clifford Springs (UK), AVS-Power (Finland), and Clemco (Norway).

• CEO transition announced, with an interim CEO starting April 1, 2025.

Financial highlights

• Q4 2024 net revenue: SEK 1,823 million (up 7.6% year-over-year); full year: SEK 7,203 million (up 4.7%).

• Adjusted EBIT for Q4: SEK 220 million (up 24.8%, margin 12.1%); full year: SEK 923 million (up 7.0%, margin 12.8%).

• Earnings per share for FY 2024: SEK 11.85 (up 38%).

• Net debt increased to SEK 2,334 million; net debt/EBITDA at 1.8x.

• Cash flow after capital expenditure was SEK 128 million in Q4; operating cash flow for Q4 was SEK 212 million.

Outlook and guidance

• Continued focus on organic and acquisition-driven growth, with ongoing capacity expansions in high-demand areas and operational efficiency.

• Management expects normalization of CapEx after current projects, with BeijerTech's CapEx expected to decrease over time barring new opportunities.

• Ambition to resolve U.S. operational challenges at Alcomex within the next two quarters.

• The company remains robust and well-positioned for continued growth despite macroeconomic uncertainties.