Resurs (RESURS) Q4 2024 earnings summary

Executive summary

• Lending to the public increased 3% year-over-year to SEK 39,903 million as of December 31, 2024.

• Operating income for the year rose 2% to SEK 3,563 million, but operating profit declined 33% to SEK 261 million.

• Net profit for 2024 was SEK 200 million, down from SEK 258 million in 2023.

• The Board will not propose a dividend for the 2025 AGM.

• Ronneby UK Limited completed a public offer, now holding 88% of shares; a new Board was elected in October 2024.

Financial highlights

• Operating income for Q4 2024 was SEK 881 million (SEK 902 million excluding items affecting comparability), nearly flat year-over-year.

• Q4 operating profit was SEK 56 million (SEK 95 million adjusted), compared to a loss of SEK 331 million last year.

• Full-year operating profit excluding items affecting comparability was SEK 439 million, down from SEK 766 million.

• EPS for 2024 was SEK 0.64 (SEK 1.43 adjusted), compared to SEK 1.14 (SEK 2.79 adjusted) in 2023.

• Credit loss ratio increased to 4.0% (3.8% in 2023); Q4 ratio improved to 3.7% (6.3% in Q4 2023).

Outlook and guidance

• Management expects a more stable macroeconomic environment with lower interest rates and inflation to gradually improve customer conditions.

• Focus remains on profitable growth, investments in core retail finance, and efficiency enhancements.