Pamica Group (PAMICA) Q4 2024 earnings summary

Executive summary

• Net sales rose 20% in Q4 and 29% for the full year 2024, driven by acquisitions despite negative organic growth in Q4.

• Adjusted EBITA increased 74% in Q4 and 33% for the year, with margin improvements to 6% and 8% respectively.

• Cash flow from operating activities more than doubled year-over-year to MSEK 466.2.

• Leverage ratio improved to 3.3x net debt/adjusted EBITDA from 4.5x a year earlier.

• Significant goodwill impairments totaling MSEK 489.6, including MSEK 260.1 in Q4, led to a substantial net loss.

Financial highlights

• Q4 net sales: MSEK 1,275.5 (+20% YoY); full year: MSEK 4,627.6 (+29% YoY).

• Q4 adjusted EBITA: MSEK 74.7 (+74% YoY, margin 6%); full year: MSEK 355.8 (+33% YoY, margin 8%).

• Q4 profit: MSEK -323.3; full year: MSEK -371.4, both impacted by goodwill impairments.

• Diluted EPS for continuing operations: SEK -3.31 in Q4, SEK -2.02 for the year.

• Cash and available credit at year-end: MSEK 322.3.

Outlook and guidance

• Focus for 2025 is on preparing for an IPO, improving adjusted EBITA margin, and decreasing leverage.

• Continued streamlining, capital injection for high-margin acquisitions, and selective divestments planned.