Ratos (RATO) AGM 2025 presentation summary

2024 performance highlights

• Achieved strong earnings for 2024, with an even better fourth quarter despite recessionary conditions.

• Adjusted EBITA rose to SEK 2,329m (from 2,244m), with a margin of 7.2% (up from 6.7%).

• Cash flow from operating activities reached SEK 3,445m, with a cash conversion of 148%.

• Net sales decreased by 5%, with organic sales also down 5%.

• Proposed dividend increased to SEK 1.35 per share.

Strategic developments and restructuring

• Streamlined operations through synergistic mergers and initiated divestments, including airteam.

• Merged Knightec and Semcon, and HENT and SSEA, creating stronger platforms.

• Focused on fewer platforms with higher margins and strong cash flow.

• Divestment of airteam expected to complete in Q2 2025.

• Ongoing strategic review to align subsidiaries with industrial and technological solutions.

Segment performance

• Industry: Adjusted EBITA margin improved to 10.0% despite a -1% net sales decline.

• Construction & Services: EBITA margin increased to 8.3%, with strong order intake.

• Consumer: Plantasjen reconstruction led to lower sales and EBITA, but reduced OpEx and debt.