Hedera Group (HEGR) Q4 2024 earnings summary

Executive summary

• Q4 2024 saw a 22.4% year-over-year revenue decline to 129.2 MSEK, mainly due to a weak staffing market and lower volumes in both Assistans and Bemanning segments.

• EBITDA for Q4 was 0.8 MSEK (0.6% margin), down from 2.1 MSEK, with a net loss after tax of -1.2 MSEK, an improvement from -3.4 MSEK last year.

• Full-year 2024 revenue fell 20% to 543.3 MSEK, with EBITDA at 6.2 MSEK (1.1% margin) and a net loss after tax of -2.4 MSEK.

• Cost savings of 11.4 MSEK were implemented, with full effect expected from June 2025.

Financial highlights

• Q4 operating income was -0.5 MSEK, compared to 0.6 MSEK in Q4 2023.

• Rolling 12-month pro forma EBITDA was 6.2 MSEK, down from 21.3 MSEK.

• Cash flow from operations for the year was 0.1 MSEK, with year-end cash at 8.4 MSEK (down from 15.1 MSEK).

• Soliditet (equity ratio) at year-end was 43% for the group and 59% for the parent company.

• No significant investments in tangible assets during the year.

Outlook and guidance

• Management expects improved growth and profitability in 2025, supported by a higher reimbursement rate for personal assistance and full realization of cost savings.

• The market for staffing is expected to recover, with a strong position in continuity consulting and new initiatives in Life Science staffing.