Nordic Fibreboard (SKN1T) Q4 2024 earnings summary

Executive summary

• Q4 2024 revenue rose 15% year-over-year to €1.51 million, but the quarter ended with a net loss of €427 thousand due to a force majeure factory shutdown and lower profitability.

• Full-year 2024 revenue was €7.59 million, down slightly from €7.70 million in 2023, with a net loss of €786 thousand compared to a €682 thousand loss in 2023.

• EBITDA for Q4 2024 was negative €276 thousand (Q4 2023: positive €245 thousand); full-year EBITDA was negative €25 thousand (2023: positive €579 thousand).

Financial highlights

• Gross margin in Q4 2024 dropped to 4% from 9% in Q4 2023; full-year gross margin was 10% (2023: 12%).

• Operating margin for Q4 2024 was -27% (Q4 2023: 9%); net margin for Q4 2024 was -28% (Q4 2023: -9%).

• Total assets at year-end 2024 were €8.25 million, down from €8.51 million a year earlier.

• EPS for 2024 was -€0.17 (2023: -€0.15); book value per share at year-end was €0.80.

Outlook and guidance

• 2025 is expected to be challenging, especially in the construction sector, with the largest market (Finland) facing economic headwinds.

• Focus will shift to new markets and industry sectors, with increased marketing and product development to support growth.

• Management anticipates gradual economic recovery in 2025, supported by declining interest rates and economic stabilization.