Bokusgruppen (BOKUS) Q4 2024 earnings summary

Executive summary

• Achieved strong growth in Q4 and full year 2024, driven by acquisitions and organic expansion, marking one of the best years ever.

• Delivered record results despite a challenging macroeconomic environment.

• Customer satisfaction and active customer numbers increased for both Akademibokhandeln and Bokus, with physical store sales and engagement rising.

• Bokus segment saw growth in digital books and customer satisfaction, despite margin pressure.

• Completed three acquisitions, including BTJ Sverige AB, strengthening B2B and public sector presence.

Financial highlights

• Net sales rose 8.4% in Q4 2024 to SEK 721.4m; full year net sales up 6.3% to SEK 1,988.9m.

• EBITA increased by 4.2% in Q4 to SEK 115.5m and 4.7% for the full year to SEK 120.3m.

• Gross margin improved to 45.3% in Q4 and 42.9% for the year.

• Result after tax reached SEK 76.8m in Q4 and SEK 41.9m for the year.

• EPS for Q4 at SEK 4.75; full-year EPS at SEK 2.60.

Outlook and guidance

• Entering 2025 with strong momentum, more satisfied customers, more stores, new B2B capabilities, and a new e-commerce platform rollout.

• Rollout of new e-commerce systems expected to enhance sales and cost efficiency.

• Board proposes increasing dividend from SEK 3.30 to SEK 3.60 per share.

• Swedish economic conditions improving, with expectations for increased consumer spending.

• Long-term EBITA margin target of 8% remains, expected after IT transformation.