Consti (CONSTI) Q4 2024 earnings summary

Executive summary

• FY 2024 net sales reached EUR 326.7m, up 1.9% year-over-year, driven by strong Building Technology performance despite a challenging construction market.

• EBIT declined 17.5% to EUR 10.2m (3.1% margin), reflecting intensified competition and market headwinds.

• Order backlog decreased 11.1% to EUR 240.1m; order intake fell 7.5% to EUR 259.0m.

• Financial and liquidity positions remained strong; Board proposes a EUR 0.70 per share dividend for 2024.

• The company aims to maintain solid performance in 2025, supported by a healthy order backlog and updated strategy.

Financial highlights

• Q4 2024 net sales were EUR 92.3m, up 7.2% year-over-year; FY 2024 net sales grew 1.9% to EUR 326.7m.

• FY 2024 EBIT was EUR 10.2m (3.1% margin), down from EUR 12.3m (3.9%) in 2023; Q4 EBIT margin at 3.9%.

• FY 2024 free cash flow was EUR 7.2m, down from EUR 13.1m in 2023; Q4 free cash flow was EUR 4.8m, up 69.5% year-over-year.

• Equity ratio improved to 41.3% (from 38.6%); net interest-bearing debt at EUR 2.7m.

• Earnings per share EUR 0.91 (down from EUR 1.17); full-year EBITDA EUR 14.3m (down 10.4%).

Outlook and guidance

• Operating result for 2025 estimated in the range of EUR 9–12m.

• Renovation market expected to return to moderate growth in 2025; Euroconstruct forecasts 0.3% growth, RT 1.0%.

• Housebuilding construction output forecast to grow 5.3% in 2025 after a weak 2024.

• Demand outlook remains weak in H1 2025 due to high costs, interest rates, and tight financing.