Apetit (APETIT) Q4 2024 earnings summary

Executive summary

• Achieved 2023–2025 strategy EBIT of EUR 9.3 million and ROCE of 8.3% in 2024, led by Food Solutions' profit growth, while Oilseed Products declined due to lower market prices.

• Net sales for 2024 were EUR 162.6 million, down 7% year-over-year, mainly from lower oilseed product prices; Food Solutions net sales rose 3% to EUR 75.8 million.

• The Group's liquidity and financial position remained strong, with an equity ratio of 79.8% and gearing at 3.1%.

• Strategic projects advanced, including ERP deployment in Food Solutions and a new bottling line at Kantvik.

• Dividend of EUR 0.75 per share proposed for 2024.

Financial highlights

• Operating result (EBIT) rose 24% to EUR 9.3 million; EBITDA increased to EUR 16.0 million.

• Profit for the period was EUR 8.5 million; earnings per share at EUR 1.37.

• Q4 2024 net sales were EUR 42.9 million (+1% year-over-year); EBIT was EUR 2.4 million (+10%).

• Net cash flow from operating activities was EUR 3.2 million, impacted by increased working capital needs in Oilseed Products.

• Investments totaled EUR 9.6 million, mainly in Oilseed Products and ERP system.

Outlook and guidance

• 2025 operating result expected to slightly decrease from 2024 (EUR 9.3 million).

• Demand in product categories expected to remain high, supported by consumer trends and new nutritional recommendations.