MEDS Apotek (MEDS) Q4 2024 earnings summary

Executive summary

• Revenue increased to SEK 837.4 million in 2024, up 27% year-over-year, with improved profitability each quarter and a positive operating result in Q4 2024.

• The company transitioned warehouse staffing to an external partner, increasing flexibility and reducing personnel costs.

• Bank loans were repaid and replaced with a SEK 35 million credit facility.

Financial highlights

• Net sales reached SEK 829.2 million in 2024, compared to SEK 655.2 million in 2023.

• Operating loss improved to SEK -8.2 million from SEK -49.1 million year-over-year.

• Net loss after financial items was SEK -11.1 million, a significant improvement from SEK -51.5 million in 2023.

• Cash and cash equivalents at year-end were SEK 21.2 million, down from SEK 50.6 million.

• Equity ratio was 28% at year-end, compared to 32% the previous year.

Outlook and guidance

• E-commerce in the pharmacy sector grew by 21% in 2024, with continued strong growth expected in 2025 and beyond.

• Management expects continued positive profitability trends in 2025, building on Q4 2024's positive operating result.