Berner Industrier (BERNER) Q4 2024 earnings summary

Executive summary

• Strong order intake and cash flow in Q4, with 28.7% order growth and 5.3% revenue growth year-over-year.

• Energi & Miljö delivered robust results, with Q4 EBITA up 87% year-over-year; Teknik & Distribution faced restructuring costs.

• Full-year revenue grew 2.1% to 962.7 MSEK, while order intake declined 3.2%.

• EBITA margin for the year was 6.1% (down from 7.3%), impacted by one-time restructuring costs.

• Board proposes dividend increase to 0.95 SEK per share.

Financial highlights

• Q4 net sales: 247.3 MSEK (up 5.3% year-over-year); full-year: 962.7 MSEK (up 2.1%).

• Q4 EBITA: 14.1 MSEK (down 10.2%); full-year EBITA: 59.0 MSEK (down 15.1%).

• Q4 EPS: 0.45 SEK (down from 0.58); full-year EPS: 1.96 SEK (down from 2.42).

• Q4 operating cash flow: 41.8 MSEK (up from 24.4); full-year: 104.9 MSEK (up from 81.5).

• Return on equity: 19.5% for the year (down from 26.8%).

Outlook and guidance

• Entering 2025 with lower cost base after restructuring in Teknik & Distribution.

• Positive momentum in order intake and offer activity, especially in Energi & Miljö.

• Management remains cautious, seeking several quarters of consistent growth before confirming a turnaround.