Hampiðjan (HAMP) Q4 2024 earnings summary

Executive summary

• Revenue for 2024 was €318.8 million, a slight decrease from €322.1 million in 2023, while net profit rose to €14.0 million from €11.8 million year-over-year.

• Major acquisitions included FiiZK Protection AS in Norway and full ownership of Swan Net USA and Hampidjan Australia, expanding market reach and operational synergies.

• The company is investing in new facilities and restructuring, notably in Denmark and Scotland, to strengthen its position in the aquaculture and fishing gear sectors.

• A 1.1 ISK per share dividend, totaling ISK 700 million, is proposed for 2025.

Financial highlights

• Net income for 2024 was €14.0 million, up from €11.8 million in 2023; EBITDA was €37.4 million, nearly flat year-over-year.

• Operating income (EBIT) reached €23.4 million, similar to €23.5 million in 2023.

• Earnings per share increased to €2.24 from €2.02 year-over-year.

• Total assets at year-end were €509.5 million, with equity of €273.2 million and an equity ratio of 53.6%.

• Cash flow from operations was €23.7 million, with cash and equivalents at €41.4 million at year-end.

Outlook and guidance

• Acquisition of 75.1% in Kohinoor Ropes Pvt. Ltd. in India, announced in early 2025, is expected to drive operational efficiencies and market expansion, especially in Asia and the Middle East.

• Plans to relocate and expand production to India, targeting new markets and cost advantages.

• Continued focus on integrating recent acquisitions and optimizing the value chain from raw materials to finished products.