KebNi (KEBNI) Q4 2024 earnings summary

Executive summary

• Achieved first profitable year in 2024, with adjusted EBITDA margin of 11% and positive operating cash flow of 7.7 MSEK, driven by strong sales and cost control.

• Revenue doubled year-over-year to 131 MSEK, with Q4 net sales of 40 MSEK, up 8% from Q4 2023.

• Strategic milestones include the launch of SensAltion, key partnership with Syntronic, and selection by ACE Antenna for a major defense project.

• Restructuring included closing Satmission AB, reducing costs and focusing on core growth areas.

Financial highlights

• Q4 2024 net sales: 40,384 KSEK (+8% YoY); full-year net sales: 130,560 KSEK (+99% YoY).

• Q4 EBITDA: 5,221 KSEK (13% margin); full-year adjusted EBITDA: 14,130 KSEK (11% margin), excluding 3.8 MSEK in non-recurring costs.

• Q4 net profit: 1,610 KSEK; full-year net profit: 2,001 KSEK, with adjusted profit of 7,907 KSEK.

• Q4 operating cash flow: 9,954 KSEK; full-year operating cash flow: 7,686 KSEK.

• Cash at year-end: 17,584 KSEK; equity ratio: 60%.

Outlook and guidance

• Focus for 2025 on ramping up series deliveries to Saab, product development, and intensified marketing in Europe and Asia.

• Anticipates continued demand growth in Inertial Sensing and SatCom markets, with ongoing cost control and efficiency improvements.

• ScaffSense JV targets first paying customer in H1 2025 and aims for cash flow positivity in 2026.