WS WeSports Group (WSG) Q4 2024 earnings summary

Executive summary

• Group consists of 35 entities specializing in sports and leisure equipment, with a focus on online and Nordic sales; continued growth through operational improvements and acquisitions is planned.

• Major acquisitions in 2024 included Addnature AB and Nordic Floorball AB; further acquisitions occurred after year-end, expanding presence in Sweden.

• Extraordinary inventory write-downs of -21.6 MSEK impacted results; adjusted EBITDA excluding this was 144.2 MSEK.

• New share issues in March 2025 raised 132 MSEK and 11,818 new shares were issued as part payment for an acquisition.

Financial highlights

• Net sales increased to 2,342.9 MSEK in 2024 from 1,740.5 MSEK in 2023.

• Adjusted EBITDA rose to 144.1 MSEK (90.8 MSEK in 2023); adjusted EBITA was 86.8 MSEK (49.4 MSEK).

• Operating profit was 24.3 MSEK, up from -25.5 MSEK; net profit was -8.4 MSEK, an improvement from -63.4 MSEK.

• Cash flow from operations was 50.3 MSEK; cash and equivalents at year-end were 68.1 MSEK.

• Total assets increased to 2,119.9 MSEK (1,907.6 MSEK in 2023); equity ratio was 42.2%.

Outlook and guidance

• Continued focus on operational improvements and acquisitions in Sweden and the Nordics, with potential for expansion in Europe.

• Limited exposure to US import tariffs; positive net effect from a weaker USD and stronger SEK against EUR.

• No immediate impact on Nordic consumer demand observed, but global economic effects are monitored.