Suominen (SUY1V) Q4 2024 earnings summary

Executive summary

• Q4 net sales grew 3% year-over-year to EUR 118.5 million, with full-year revenue up 2.5% to EUR 462.3 million, driven by higher sales volumes but offset by lower sales prices.

• Comparable/adjusted EBITDA for Q4 was EUR 4.2 million (down from 5.3), and full-year EBITDA improved to EUR 17.0 million (up from 15.8), driven by better sales margins.

• Cash flow from operations in Q4 was EUR 6.5 million, with full-year cash flow at EUR 3.9 million, impacted by interest payments and higher working capital.

• Net result remained negative at EUR -5.3 million, improving from EUR -12.8 million in 2023.

• No dividend proposed for 2024 to support cash balance amid major investments.

Financial highlights

• Gross profit for 2024 was EUR 29.7 million, up from EUR 22.7 million in 2023.

• Operating profit for 2024 was EUR -1.3 million, compared to EUR -7.5 million in 2023.

• Profit for the period was EUR -5.3 million in 2024, an improvement from EUR -12.8 million in 2023.

• Earnings per share for 2024 was EUR -0.09, compared to EUR -0.22 in 2023.

• Share of new products in net sales reached 34% in 2024.

Outlook and guidance

• Comparable/adjusted EBITDA in 2025 is expected to improve from the 2024 level of EUR 17.0 million.

• Market uncertainty expected to persist, especially in Europe due to intensified competition from low-cost countries and ongoing tariff discussions.