Clemondo Group (CLEM) Q4 2024 earnings summary

Executive summary

• Q4 2024 net sales rose 1% to 70.2 MSEK, with EBITDA at 6.5 MSEK and EBIT at 3.2 MSEK, both down year-over-year due to increased growth investments.

• Full-year 2024 sales declined 6% to 262.1 MSEK, with EBITDA at 23.8 MSEK and EBIT at 9.2 MSEK, reflecting weak demand in the Vehicle segment.

• Solid financial position with equity ratio at 62.4% and net debt reduced to 22.5 MSEK by year-end.

• Growth in Hygiene (+8%) and Industry (+14%) segments offset by a 6% decline in Vehicle sales in Q4.

• Positive outlook for 2025, supported by a major hygiene contract worth up to 44 MSEK over four years.

Financial highlights

• Q4 2024: Net sales 70.2 MSEK (69.5), EBITDA 6.5 MSEK (7.9), EBIT 3.2 MSEK (4.0), net income 2.5 MSEK (3.0), EPS 0.18 SEK (0.22).

• Full-year 2024: Net sales 262.1 MSEK (278.9), EBITDA 23.8 MSEK (31.9), EBIT 9.2 MSEK (16.4), net income 6.2 MSEK (10.0), EPS 0.45 SEK (0.72).

• Gross margin Q4: 39.1% (39.7%).

• Operating cash flow Q4: 8.4 MSEK (10.9).

• No dividend proposed for 2024.

Outlook and guidance

• Entering 2025 with improved position, strong equity, and focus on growth.

• Major hygiene contract with Västra Götalandsregionen to start May 2025, valued at 11 MSEK annually.

• Management expects continued growth in Hygiene and Industry, with stabilization in Vehicle.