Ekspress Grupp (EEG1T) Q4 2024 earnings summary

Executive summary

• Q4 2024 sales revenue rose 10% year-over-year to €23.5m, with EBITDA up 23% to €5.2m and net profit up 25% to €3.1m.

• For the full year, sales revenue increased 4% to €76.2m, EBITDA grew 4% to €10.7m, but net profit declined 3% to €3.3m due to higher interest and depreciation.

• Digital revenue reached 86% of total, surpassing the 2026 target, and digital subscriptions in the Baltics grew 15% to 238,000.

• Strong growth in ticket sales platforms (+21%) and outdoor screen business (+26%), especially in Latvia.

• Dividend payout for 2023 was €1.85m (55% of profit), exceeding the minimum 30% policy.

Financial highlights

• Q4 2024: Revenue €23.5m (+10%), EBITDA €5.2m (+23%), net profit €3.1m (+25%), EPS €0.1016.

• FY 2024: Revenue €76.2m (+4%), EBITDA €10.7m (+4%), net profit €3.3m (-3%), EPS €0.1058.

• Digital revenue share: 86% (2023: 83%), digital revenue up 9% year-over-year.

• Operating expenses rose 7% to €72.1m, mainly from higher labor costs.

• Cash at year-end: €9.0m; net debt: €13.1m; equity: €58.4m.

Outlook and guidance

• Management targets at least 340,000 digital subscriptions and >85% digital revenue share by 2026.

• Dividend policy remains at a minimum 30% payout of net profit, subject to liquidity and investment needs.

• Focus continues on digital growth, new revenue streams (conferences), and maintaining strong liquidity.