Momentum Group (MMGR) Q4 2024 (Q&A) earnings summary

Executive summary

• Organic growth rates fluctuated throughout the year, with Q4 organic growth at 1% and full-year at 3%, while total revenue rose 12% in Q4 and 25% for the year, driven by acquisitions.

• EBITA was stable in Q4 at SEK 70 million and increased 22% for the year to SEK 322 million; net profit for the year rose 8% to SEK 186 million.

• Eight companies were acquired in 2024, contributing SEK 260 million in annual revenue and driving growth.

• Exceeded annual targets for earnings growth, profitability, and dividend ratio.

• Aftermarket business provided resilience but resulted in delayed market impact compared to peers.

Financial highlights

• Q4 revenue was SEK 745 million (up 12% YoY); full-year revenue reached SEK 2,873 million (up 25% YoY).

• Q4 EBITA was SEK 70 million (flat YoY); full-year EBITA was SEK 322 million (up 22% YoY).

• Q4 net profit was SEK 34 million (down from SEK 44 million); full-year net profit was SEK 186 million (up 8%).

• EBITA margin for the full year was 11.2% (down from 11.5%); operating margin was 9.5% (down from 10.3%).

• Cash flow from operations was SEK 323 million; available cash and credit facilities totaled SEK 859 million; equity/assets ratio was 36%.

Outlook and guidance

• Demand is gradually returning, with a robust acquisition pipeline and increased activity across Nordic countries.

• The group is well-positioned for continued growth in 2025, supported by a solid balance sheet and strong cash flow.

• Asset-light model and robust cash generation enable continued reinvestment and acquisition activity.