Fenix Outdoor (FOI-B) Q4 2024 earnings summary

Executive summary

• Total income for Q4 2024 was EUR 177.8m, down 3.5% year-over-year; full year income was EUR 698.8m, down 6.8% year-over-year.

• Q4 operating profit improved to EUR 2.6m from EUR 0.4m; full year operating profit was EUR 37.4m, down from EUR 55.0m.

• Profit after tax for Q4 was EUR -3.2m (vs. EUR -6.8m); full year profit after tax was EUR 14.7m (vs. EUR 32.0m).

• Board proposes ordinary and extra dividends totaling SEK 30.00 per B-share, reflecting strong cash flow and normalized inventory.

Financial highlights

• Q4 EBITDA was EUR 17.2m (vs. EUR 17.5m); full year EBITDA was EUR 95.3m (vs. EUR 113.7m).

• Earnings per B-share for Q4 was EUR -0.24 (vs. EUR -0.53); full year EPS was EUR 1.09 (vs. EUR 2.37).

• Cash and cash equivalents at year-end were EUR 111.8m; interest-bearing liabilities reduced to EUR 38.7m.

• Solvency rate improved to 60.2% from 56.1%.

Outlook and guidance

• 2025 market remains challenging, but orderbooks for fall and winter show improvement.

• Retailers remain cautious, increasing risk for Fenix in purchasing and inventory management.

• Focus for 2025 will be on sales growth and cost control amid ongoing supply chain and political uncertainties.