Go North Group (GONORTH) Q4 2024 earnings summary

Executive summary

• Q4 2024 marked a period of accelerated organizational change, cost reduction, and a focus on commercial core operations, with ongoing business stabilization and debt reduction efforts during a formal reconstruction process.

Financial highlights

• Net sales for Q4 2024 were KSEK 159,714, down from KSEK 185,801 in Q4 2023; full-year net sales were KSEK 558,544, down from KSEK 650,273.

• Adjusted EBITDA for Q4 2024 was KSEK -18,135 (Q4 2023: -16,526); full-year adjusted EBITDA was KSEK -12,146 (2023: -4,004).

• EBITA for Q4 2024 improved to KSEK -18,655 from KSEK -23,985 in Q4 2023; full-year EBITA was KSEK -14,238 (2023: -30,491).

• Q4 2024 net loss was KSEK -79,088 (Q4 2023: -32,272); full-year net loss was KSEK -387,627 (2023: -217,041).

• Cash flow from operating activities in Q4 2024 was KSEK -3,238, a significant improvement from KSEK -42,119 in Q4 2023.

Outlook and guidance

• Management expects a more stable future post-reconstruction, with a lower fixed cost base and improved revenue trends across the portfolio.