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Nordic Waterproofing (NWG) investor relations material
Nordic Waterproofing Q4 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Net sales declined 12% year-over-year to SEK 925m in Q4 2024, all from organic contraction, with full-year sales down 8% to SEK 4,091m.
EBITDA fell to SEK 71m in Q4 (from SEK 89m), and full-year EBITDA was SEK 432m, down 7% year-over-year.
Profit for the period was SEK 14m in Q4, down 68% year-over-year; full-year EBIT at SEK 278m, down 5%.
ROCE remained stable at 10.1% for the year, slightly below the long-term target.
Board proposes a SEK 4.00 per share dividend, representing over 50% of net profit.
Financial highlights
Q4 gross margin was 24.2% (24.6% last year); full-year gross margin improved to 26.4% (25.0%).
Q4 EBITDA margin at 7.6% (8.5% last year); full-year EBITDA margin at 10.6% (10.4%).
Net debt reduced to SEK 697m–716m (from SEK 724m–749m); net debt/EBITDA at 1.6–1.7x.
Cash flow from operating activities was SEK 144m in Q4 and SEK 288m for the year, both down year-over-year.
Equity/asset ratio improved to nearly 54% (from 49%).
Outlook and guidance
Commercial new build and renovation demand expected to remain stable in early 2025; residential new build to stay weak except in Denmark.
Market conditions anticipated to improve later in 2025, except in Finland.
Continued focus on debt level, selective expansion, and acquisition opportunities, especially with Kingspan partnership.
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