Byggma (BMA) Q4 2024 earnings summary

Executive summary

• Leading Nordic supplier of building product solutions with #1 market position in boards and beams and a growing international presence.

• Operates 7 manufacturing facilities, distributes to all major building material chains, and employs around 690 people.

• Focus on sustainable, innovative products and strong M&A track record, with 9 acquisitions since IPO and a shortlist of 11 new targets.

• Despite the most challenging market since WWII, maintained profitability through resilience and operational discipline.

• Aneta Lighting achieved 10% sales growth in Q4, outperforming a declining market.

Financial highlights

• Q4 2024 sales revenue of NOK 574m, up 0.5% year-over-year; full-year 2024 revenue at NOK 2,167m, down from NOK 2,223m in 2023.

• Q4 2024 EBITDA at NOK 49m (vs NOK 56m in Q4 2023); full-year 2024 EBITDA at NOK 213m (down from NOK 293m in 2023).

• Net profit for 2024 at -NOK 259m, compared to NOK 61m in 2023, impacted by share of loss from associate and net financials.

• Liquidity reserve at year-end was NOK 122m, down NOK 145.6m from the start of the year.

• Equity ratio of 31.4% as of 31 December 2024; net interest-bearing debt ex. leasing and sale leaseback at NOK 1,074m.

Outlook and guidance

• Revenues from new products (Huntonit Pro Wall, Forestia Premium Ceiling, Forestia Ergospon) expected to increase in 2024.

• Large growth potential from value-added products and identified M&A targets with combined revenue of NOK 17.6bn.

• Ample available production capacity and flexibility to expand by ~10% through manufacturing line extension.

• Focus on cost reductions, strategic alliances, and investments in digitization, automation, and sustainability.

• The group is well positioned for future growth and efficiency improvements, with a stable workforce and ongoing investments.