Cedergrenska (CEDER) Q4 2024 earnings summary

Executive summary

• Revenue for FY 2023/24 increased by 3.3% to 907,920 KSEK, with Q4 revenue up 7.6% year-over-year to 241,715 KSEK.

• Adjusted EBITA for the year rose to 56,215 KSEK (up from 37,827 KSEK), with a margin of 6.2% (4.3%).

• Adjusted net income with goodwill amortization added back reached 43,772 KSEK, and adjusted EPS was 3.77 SEK (2.38) for the year.

• Board proposes a dividend of 0.57 SEK per share, totaling 6,568 KSEK, representing 100% of reported net profit.

• Strong cash flow and net cash position at year-end, with net debt at -36,600 KSEK.

Financial highlights

• Q4 adjusted EBITA margin improved to 7.4% (2.8% last year); full-year margin at 6.2% (4.3%).

• EBITDA for the year was 66,249 KSEK (50,180 KSEK prior year).

• Cash flow from operations for the year was 77,271 KSEK (23,310 KSEK prior year).

• Liquidity at period end was 61,664 KSEK, with total interest-bearing bank loans reduced to 25,064 KSEK.

• Number of students and children increased to 7,082 (6,875 prior year).

Outlook and guidance

• Forecast for FY 2024/25: revenue growth of at least 10%, EBITA margin of at least 6%, and goodwill-adjusted EPS of at least 4 SEK.

• Internal review underway to address surplus capital, with a focus on liquidity optimization and investment needs.