Serstech (SERT) Q4 2024 earnings summary

Executive summary

• Net sales for 2024 were KSEK 52,262, down from KSEK 62,913 in 2023, with a net result of KSEK -9,131 compared to KSEK 715 last year.

• Q4 2024 ended strongly with order intake of approximately KSEK 28,000, of which KSEK 15,900 will be delivered in Q1 2025.

• Revenue diversification improved, with seven major orders from seven partners in 2024 versus three from two partners in 2023.

• Investments in sales and R&D are planned, including doubling the sales team and launching new products and accessories.

Financial highlights

• Q4 2024 net sales increased 217% year-over-year to KSEK 13,326; full-year net sales declined 17% to KSEK 52,262.

• Q4 EBITDA was KSEK -1,515 (margin -11%), improved from KSEK -4,390; full-year EBITDA was KSEK -1,199 (margin -2%), down from KSEK 12,900.

• Q4 EBIT was KSEK -3,725 (margin -28%), improved from KSEK -7,405; full-year EBIT was KSEK -9,040 (margin -17%), down from KSEK 955.

• Q4 net earnings were KSEK -3,668; full-year net earnings were KSEK -9,131.

• Cash flow from operating activities was KSEK 3,645 in Q4 and KSEK 562 for the year.

Outlook and guidance

• Significant sales and R&D investments planned for 2025, including expanding the sales team and targeting the military segment.

• Management expects a return to growth in 2025 and aims to build a strong pipeline for 2026 and beyond.