Sensys Gatso Group (SGG) Q4 2024 earnings summary

Executive summary

• Full-year 2024 revenue reached SEK 631 million, up 1% year-over-year, with 59% from recurring TRaaS services.

• Order intake for 2024 was SEK 992 million, a 32% increase from 2023, driven by new and extended contracts, especially in the US.

• Major contracts in Sweden and the Netherlands have a combined backlog exceeding SEK 1 billion, with Swedish rollout starting H1 2025 and Dutch rollout ongoing through 2026.

• EBITDA for 2024 was SEK 68.8 million (down from SEK 85.3 million in 2023); EBIT was SEK 23.2 million (down from SEK 39.3 million).

• CEO Ivo Mönnink announced he will step down by October 1, 2025, after eight years.

Financial highlights

• Q4 2024 revenue was SEK 198 million, with TRaaS revenue at SEK 100 million (51% of sales) and system sales at SEK 98 million.

• Full-year gross margin was 38.2% (2023: 40.5%); Q4 gross margin was 36% (down from 42% in Q4 2023).

• Q4 EBITDA was SEK 28.5 million (Q4 2023: SEK 45.4 million); full-year EBITDA was SEK 68.8 million (2023: SEK 85.3 million).

• Net income for 2024 was SEK 5.7 million, with EPS of SEK 0.49 (2023: SEK 1.12).

• Cash and equivalents at year-end were SEK 165 million, with total available liquidity of SEK 203 million.

Outlook and guidance

• 2025 revenue is expected between SEK 700–800 million, with an EBITDA margin of 12–14%.

• Ambition to reach SEK 1 billion revenue and >15% EBITDA margin is delayed but remains a long-term goal.

• Growth in TRaaS recurring revenue and U.S. market expansion are key drivers for future profitability.