Safello Group (SFL) Q4 2024 earnings summary

Executive summary

• Achieved record-breaking Q4 2024 with net turnover up 40% year-over-year to SEK 241.3 million and gross profit up 118% to SEK 20.3 million.

• Full-year 2024 net turnover rose 37% to SEK 767.0 million, with net profit of SEK 9.0 million, reversing a prior year loss.

• Number of orders in Q4 increased 35% to 60,720, and active customers rose to 30,802.

• Strong crypto market conditions and new product offerings contributed to growth.

Financial highlights

• Q4 EBITDA reached SEK 7.6 million (vs. SEK 0.1 million in Q4 2023); EBITDA margin improved to 42.6%.

• Q4 net profit was SEK 7.1 million (SEK 2.3 million prior year); EPS after dilution SEK 0.33 (0.10).

• Full-year EBITDA SEK 9.9 million (vs. -2.0 million); net profit SEK 9.0 million (vs. -0.4 million).

• Cash balance at year-end SEK 24.9 million, up from SEK 17.3 million; crypto assets market value SEK 14.8 million.

• Gross margin for Q4 improved to 8.4% (5.4% prior year); adjusted gross margin 7.4%.

Outlook and guidance

• Q1 2025 started stable, with increased costs due to strategic investments in compliance, marketing, and technology.

• Focus for 2025: launch new trading experience, expand financial products, and grow outside Sweden.

• Results remain closely tied to crypto market conditions and may fluctuate with seasonal and market trends.