Tokmanni Group (TOKMAN) Q4 2024 earnings summary

Executive summary

• Q4 2024 revenue grew 5.5% to EUR 496.9 million, with like-for-like visits up 5.3% and comparable EBIT up 2.7% to EUR 47.5 million; full-year revenue rose 20.3% to EUR 1,675.0 million.

• Dollarstore integration achieved EUR 13.3 million in annual synergies by year-end, nearing the EUR 15 million target for 2025.

• Store network expanded to 380 stores, with active growth in Sweden and Denmark; Miny operates as a shop-in-shop.

• Aggressive campaigns and strong product ranges drove sales, especially during the high season, despite low consumer confidence in Finland.

• Board proposes a maximum dividend of EUR 0.68 per share, to be paid in two instalments.

Financial highlights

• Group revenue grew by 5.5% in Q4 to EUR 496.9 million; like-for-like revenue up 3.6%.

• Comparable gross profit margin was 35.7% in Q4; gross profit EUR 177.3 million.

• Comparable EBIT for Q4 was EUR 47.5 million (9.3–9.6% margin), nearly flat year-over-year.

• Cash flow from operating activities in Q4 was EUR 76.5 million; full-year cash flow EUR 89.1 million.

• Full-year comparable EBIT reached EUR 99.7 million, with a margin of 6%.

Outlook and guidance

• 2025 revenue expected between EUR 1,720–1,820 million; comparable EBIT guidance is EUR 100–130 million.

• Dividend proposal of up to EUR 0.68 per share in two instalments.

• Guidance reflects caution due to ongoing uncertainty in consumer confidence and geopolitical factors.

• Freight costs expected to be several million lower in 2025 compared to 2024.