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Glamox (GLAM) investor relations material
Glamox Q4 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved record-high order intake of NOK 4,476 million (+3.7%) and revenues of NOK 4,487 million (+5.2%) year-over-year, driven by strong demand for energy-efficient smart lighting solutions and regulatory tailwinds.
Adjusted EBITA rose 35.6% to NOK 681 million, with margin improvement to 15.2% (from 11.8%), supported by cost savings, product mix, and growth in Marine, Offshore & Wind (MOW).
Strategic initiatives included the acquisition of MARL International, production consolidation in Poland, and digitalisation efforts.
Science-based net-zero targets validated by SBTi, with progress on emissions reduction and circular economy initiatives.
Financial highlights
Revenue: NOK 4,487 million (+5.2% year-over-year).
Adjusted EBITDA: NOK 797 million (margin 17.8%, up from 14.7%).
Adjusted EBITA: NOK 681 million (margin 15.2%, up from 11.8%).
Operating profit: NOK 525 million.
Net income: NOK 305 million (EPS NOK 4.62, up from NOK 2.15).
Cash flow from operations: NOK 695 million.
Equity ratio: 25.0% (up from 21.9%).
Leverage ratio: 0.9x adjusted EBITDA (down from 1.4x).
Outlook and guidance
Long-term growth prospects remain positive, underpinned by demand for energy-efficient lighting, stricter regulations, and investments in offshore energy, navy, and wind sectors.
Near-term visibility is uncertain due to macroeconomic and geopolitical factors, but the business is agile and well-prepared.
Targeting 45% of turnover from connected lighting by 2025 (2024: 42%).
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