Saxlund Group (SAXG) Q4 2024 earnings summary

Executive summary

• Revenue for 2024 was 307 MSEK, nearly unchanged from 2023, reflecting stable demand and activity levels.

• EBITDA improved to -2.5 MSEK for the year, a 13.5 MSEK improvement year-over-year, with Q4 EBITDA at -1.8 MSEK, up 11.2 MSEK from Q4 2023.

• Net result for 2024 was -15.1 MSEK, a significant improvement from -26.7 MSEK in 2023; Q4 net result was -4.0 MSEK.

• Stronger aftersales segment and improved margins in project business contributed to the result turnaround.

• Equity ratio improved after a rights issue, and the group is now free from long-term debt except for leasing.

Financial highlights

• Q4 revenue increased 17% year-over-year to 78.6 MSEK, driven by project business.

• Full-year EBIT was -6.4 MSEK, up from -20.2 MSEK in 2023; Q4 EBIT was -2.5 MSEK, up from -13.9 MSEK.

• Excluding a one-time write-down in the UK (2.0 MSEK), Q4 EBITDA would have been positive.

• Cash and cash equivalents at year-end were 12.2 MSEK, up from 3.5 MSEK last year.

• Equity at year-end was 57.96 MSEK (22.81 SEK/share), up from 13.08 MSEK (20.41 SEK/share) in 2023.

Outlook and guidance

• Focus remains on profitability and efficiency in 2025, with plans to intensify growth efforts after two strong quarters.

• Order book improved slightly in Q4 but remains below historical levels; pipeline is strong and expected to support future growth.

• Board assesses liquidity as sufficient to support current operations through 2025 and beyond.