Apranga (APG1L) Q4 2024 earnings summary

Executive summary

• Retail turnover reached EUR 354.2 million in 2024, up 8.5% year-over-year, with growth in all Baltic countries.

• Online turnover rose 21.5% to EUR 48.4 million (VAT included), now 13.7% of total turnover.

• Net profit for 2024 was EUR 15.96 million, down 4.8% year-over-year.

• EBITDA increased 1.3% to EUR 41.5 million, but EBITDA margin declined from 15.2% to 14.2%.

• 7 new stores opened, 11 renovated, and 5 closed; total store count at 171.

Financial highlights

• Revenue: EUR 292.9 million, up 8.6% year-over-year.

• Gross profit: EUR 132.1 million, gross margin 45.1% (down from 46.0%).

• Operating profit: EUR 20.95 million, operating margin 7.2%.

• Profit before tax: EUR 19.43 million, down 4.4% year-over-year.

• EPS: EUR 0.29 (down from EUR 0.30).

Outlook and guidance

• 2025 turnover target set at EUR 377 million (including VAT), a 6.4% increase.

• Plans to renovate or open 7-10 stores and invest EUR 7-10 million in 2025.