CAG Group (CAG) Q4 2024 earnings summary

Executive summary

• Full-year 2024 revenue was 872.1 MSEK, a decrease of 2.4% year-over-year, with stable margins despite a challenging calendar.

• EBITA margin for 2024 was 8.6%, down from 9.2% in 2023; after-tax profit was 48.6 MSEK, compared to 53.4 MSEK last year.

• Q4 revenue was 231.5 MSEK, down 8.1% year-over-year, with an EBITA margin of 9.4%.

• Board proposes a dividend of 4.10 SEK per share for 2024, up from 3.90 SEK.

• Long-term ambition: reach 1,000 MSEK revenue and 10% adjusted EBITA margin by end of 2025.

Financial highlights

• Cash flow from operations for 2024 was 82.2 MSEK, up from 66.4 MSEK in 2023.

• Profit per share for 2024 was 6.78 SEK, compared to 7.46 SEK in 2023.

• Q4 after-tax profit was 14.8 MSEK, down from 17.7 MSEK year-over-year.

• Solid cash position: 108.4 MSEK in cash at year-end, net cash position improved to 49.5 MSEK.

• Solid equity ratio at 58.4% (50.9%).

Outlook and guidance

• Solid demand expected in Defence and Banking & Finance segments for 2025.

• General market activity anticipated to recover over the year; Q1 and Q2 have one fewer working day.

• Ongoing focus on acquisitions, with strong cash flow and low leverage supporting M&A agenda.

• Price and salary inflation has normalized; increased M&A activity expected in 2025.

• Long-term ambition: reach 1,000 MSEK revenue and 10% adjusted EBITA margin by end of 2025.