LPKF Laser & Electronics (LPK) H2 2024 earnings summary

Executive summary

• Revenue declined 1.2% year-over-year to EUR 122.9 million, with EBIT dropping to EUR -2.5 million from EUR 3.7 million.

• Adjusted EBIT was EUR 0.1 million, impacted by EUR 2.6 million in extraordinary costs, mainly severance and share option expenses.

• Order intake fell 4.8% to EUR 114.3 million, and order backlog decreased to EUR 50.9 million.

• Free cash flow improved to EUR 1.9 million, driven by reduced net working capital.

• No dividend proposed for 2024; resources to be invested in future growth.

Financial highlights

• Revenue: EUR 122.9 million (2023: EUR 124.3 million); EBIT: EUR -2.5 million (2023: EUR 3.7 million).

• Adjusted EBIT: EUR 0.1 million (2023: EUR 4.4 million); EBIT margin: -2.1%.

• Net loss: EUR -4.5 million; Diluted EPS: EUR -0.18.

• ROCE: -2.5%; Equity ratio: 69.7%.

• Free cash flow: EUR 1.9 million (2023: EUR -11.1 million).

Outlook and guidance

• 2025 revenue expected between EUR 125–140 million; adjusted EBIT margin targeted at 6–9%.

• Q1 2025 revenue guidance: EUR 25–28 million; adjusted EBIT between EUR -3.5 and -1.5 million.

• Medium-term ambition: upper single-digit growth in core business, low three-digit million revenue from new areas, double-digit EBIT margin.