Lohilo Foods (LOHILO) Q4 2024 earnings summary

Executive summary

• Achieved 12.7% year-over-year revenue growth to 205.2 MSEK for 2024, with Q4 revenue up 23.2% to 47.4 MSEK.

• Own brands grew 22.5% for the year and 32.6% in Q4; export sales up 10.7% for the year and 54% in Q4.

• EBITDA positive for both Q4 (0.9 MSEK) and full year (6.8 MSEK), marking a turnaround from prior losses.

• EBIT for 2024 reached 1.5 MSEK, a significant improvement from -25.8 MSEK in 2023.

• Net result for 2024 was -2.3 MSEK, a marked improvement from -29.1 MSEK in 2023.

Financial highlights

• Gross margin increased to 32.0% for 2024 (31.5% in 2023); Q4 gross margin at 30.3%.

• Cash flow from operations positive at 3.5 MSEK for both Q4 and full year.

• Earnings per share improved to -0.06 SEK for 2024 from -0.97 SEK in 2023.

• Liquidity at year-end: 10.3 MSEK including credit lines; equity at 13.6 MSEK.

• No dividend proposed for 2024.

Outlook and guidance

• Targets average annual sales growth of at least 10% and EBITDA margin of at least 10% for 2025–2029.

• Plans to reduce currency exposure by relocating production to Sweden in 2025.

• Focus on expanding in existing export markets, especially the Nordics, Netherlands, Switzerland, and China.

• New product launches planned for Q1 2025, including new ice cream flavors.