Green Cargo (GC) Q4 2024 earnings summary

Executive summary

• 2024 marked by both progress and challenges, with ongoing transformation for long-term sustainability and profitability.

• New multi-year transport contracts signed, totaling 1,287 MSEK in Q4 and 1,981 MSEK for the year, mainly in Steel, Automotive, and Forest segments.

• Efficiency measures led to improved operating results, though demand and volumes declined year-over-year.

• Strategic focus on safety, punctuality, and profitability, with digital transformation and a new traffic program launched.

Financial highlights

• Q4 net revenue: 1,031 MSEK (1,035 MSEK in Q4 2023); full-year: 4,248 MSEK (4,168 MSEK in 2023).

• Q4 operating income: -17 MSEK (-71 MSEK); full-year: -104 MSEK (-44 MSEK).

• Q4 net income: -48 MSEK (-68 MSEK); full-year: -193 MSEK (-97 MSEK).

• Q4 organic operating income: -74 MSEK (-146 MSEK); full-year: -320 MSEK (-474 MSEK).

• Q4 cash flow from operations: 70 MSEK (143 MSEK); full-year: 66 MSEK (284 MSEK).

Outlook and guidance

• Board proposes no dividend for 2024.

• Ongoing focus on cost efficiency, digitalization, and adapting to infrastructure fee increases in 2025.

• Market demand remains stable but cautious, with risks from economic uncertainty and infrastructure costs.