Vimab Group (VIMAB) Q4 2024 earnings summary

Executive summary

• Net sales for 2024 decreased by 5.3% year-over-year to 323.6 MSEK, with Q4 down 24.7% to 85.7 MSEK compared to Q4 2023.

• Operating result for 2024 was -76.9 MSEK, significantly impacted by goodwill write-downs and restructuring costs.

• Positive operating cash flow of 1.5 MSEK for the year, despite negative earnings.

• Strategic shift towards near-shoring and electro-infrastructure, with major order pipeline for 2025.

• Initiated process to divest Vimab AB, the largest subsidiary, to strengthen financial position.

Financial highlights

• Q4 2024 net sales: 85.7 MSEK (down 24.7% YoY); full year: 323.6 MSEK (down 5.3% YoY).

• Q4 operating result: -47.1 MSEK (0.2 MSEK in Q4 2023); full year: -76.9 MSEK (5.5 MSEK in 2023).

• Q4 EPS: -2.1 SEK (-0.3 SEK in Q4 2023); full year EPS: -3.6 SEK (-0.3 SEK in 2023).

• Q4 operating margin: -55.0%; full year: -23.8%.

• Cash flow from operations: 1.5 MSEK for 2024 (8.3 MSEK in 2023); liquidity at year-end: 12.1 MSEK.

Outlook and guidance

• Order pipeline strengthened by a 825 MSEK letter of intent for battery systems, deliveries starting Q3 2025.

• Strategic investments in electro-infrastructure expected to yield results from 2025 onwards.

• Divestment of Vimab AB under evaluation to provide significant cash inflow.