Comer Industries (COM) Q4 2024 earnings summary

Executive summary

• Consolidated revenues for 2024 were €942.4 million, a 23.0% decrease year-over-year at constant exchange rates.

• EBITDA margin remained stable at 16.7% despite lower sales, reflecting resilient profitability.

• Net profit was €67.2 million, down from €94.0 million in 2023; adjusted net profit was €82.5 million.

• Net financial debt decreased to €58.4 million, the lowest since the 2021 Walterscheid acquisition.

• Proposed dividend of €0.80 per share for 2024.

Financial highlights

• EBITDA was €157.5 million, down from €205.0 million in 2023, but margin held at 16.7%.

• EBIT was €99.3 million (10.5% of revenues), compared to €144.4 million in 2023.

• Free cash flow was €60.5 million, with adjusted free cash flow at €84.0 million after non-recurring items.

• Total equity increased to €544.2 million, up €36.6 million year-over-year.

Outlook and guidance

• 2025 sales expected to align with major OEM market forecasts, with new projects contributing.

• Margins anticipated to be slightly lower than 2024.

• Continued improvement in net financial position expected, excluding extraordinary transactions.