Genovis (GENO) Q4 2024 earnings summary

Executive summary

• Enzyme business achieved 21% organic sales growth in Q4 2024, with strong improvement in operating profit and margin compared to the same quarter last year.

• Full-year enzyme business sales (excluding license revenue) grew 14% year-over-year, despite challenging market conditions.

• Strategic divestment of the antibody business and acquisition of a 25% stake in Sequrna AB broadened the product portfolio.

• Robust cash flow and financial position, with cash and cash equivalents at SEK 169.4 million at year-end.

Financial highlights

• Q4 2024 net sales: SEK 27,936 thousand, up 21% for the enzyme business year-over-year; full-year enzyme business net sales: SEK 120,368 thousand, down 13%.

• Q4 EBITDA: SEK 7,771 thousand (27.8% margin); Q4 EBIT: SEK 5,329 thousand (19.1% margin).

• Full-year EBITDA: SEK 56,178 thousand; full-year EBIT: SEK 45,732 thousand; profit for the year: SEK 32,916 thousand.

• Earnings per share for 2024: SEK 0.50 (vs. SEK 0.94 in 2023).

• Cash flow from operating activities: SEK 37,116 thousand for the year.

Outlook and guidance

• Management expects continued advances in new products and sales, with a positive long-term outlook despite ongoing macroeconomic and geopolitical uncertainties.

• Life Science sector's relative independence from business cycles supports operational capacity and business opportunities.