Premium Snacks Nordic (SNX) Q4 2024 earnings summary

Executive summary

• Achieved record annual net sales of 454 MSEK, up 22.4% year-over-year, with Q4 sales rising 19.8% to 119.6 MSEK compared to Q4 2023.

• EBITA more than doubled to 18.9 MSEK for 2024 (7.8 MSEK in 2023); Q4 EBITA rose to 3.5 MSEK (1.9 MSEK in Q4 2023).

• Strong growth across all product segments and markets, with chip exports up 63% and Gårdschips up 29% in Q4.

• Operating cash flow improved to 26.4 MSEK for the year (9.4 MSEK in 2023).

Financial highlights

• Q4 gross margin was 39.3% (40.1% in Q4 2023); full-year gross margin improved to 41.1% (40.9%).

• EBITDA for 2024 increased 52% to 28.9 MSEK; Q4 EBITDA was 4.7 MSEK (5.5 MSEK in Q4 2023).

• Net income for 2024 was 9.6 MSEK (0.96 MSEK in 2023); Q4 net income was 0.26 MSEK (-0.17 MSEK in Q4 2023).

• Earnings per share for 2024 rose to 0.73 SEK (0.07 SEK in 2023).

• Equity increased 16.4% to 68.7 MSEK; net debt reduced by 29.1% to 39.1 MSEK.

Outlook and guidance

• 2025 net sales expected to exceed 520 MSEK with EBITA margin above 5%.

• Ambition to surpass 6% EBITA margin in 2026 with continued double-digit growth.

• Board proposes a dividend of 0.20 SEK per share for 2024.