Calviks (CALVIK) Q4 2024 earnings summary

Executive summary

• Achieved strong growth in 2024, with net sales up 451% to 406,908 TSEK and organic growth of 30% year-over-year, despite a declining market.

• EBITDA rose 277% to 24,774 TSEK and net income increased to 12,733 TSEK from 1,513 TSEK year-over-year.

• Proforma figures show net sales of 460,303 TSEK (+524%) and EBITDA of 26,349 TSEK (+301%) for 2024, reflecting acquisitions.

• Board proposes a dividend of 6 MSEK (1.20 SEK/share).

• Workforce grew to 490 employees by year-end.

Financial highlights

• Q4 net sales: 120,147 TSEK (+525% vs. Q4 2023); full-year net sales: 406,908 TSEK (+451%).

• Q4 EBITDA: 2,878 TSEK (vs. -2,991 TSEK); full-year EBITDA: 24,774 TSEK (vs. 6,563 TSEK).

• Q4 net income: 953 TSEK (vs. -3,394 TSEK); full-year net income: 12,733 TSEK (vs. 1,513 TSEK).

• Cash flow from operations: 17,985 TSEK for the year (vs. 4,275 TSEK); year-end cash: 30,051 TSEK.

• Adjusted EBITDA and EBIT exclude a one-time customer loss of 2.85 MSEK due to Serneke's bankruptcy in Q4.

Outlook and guidance

• Continued strong demand in key segments, especially defense and infrastructure consulting.

• Ongoing focus on acquisitions and integration, with further improvements and efficiency measures planned for 2025.

• Management expects to meet acquisition targets and sees further potential for margin improvement.