Crown Energy (CRWN) Q4 2024 earnings summary

Executive summary

• Turnover for 2024 increased to SEK 39,161 thousand from SEK 37,107 thousand year-over-year, with Q4 turnover at SEK 9,968 thousand, up from SEK 8,915 thousand.

• Full-year operating loss improved to SEK -87,789 thousand from SEK -110,226 thousand; Q4 operating loss narrowed to SEK -19,443 thousand from SEK -31,963 thousand.

• Net profit for Q4 was SEK 16,383 thousand, reversing a loss of SEK -30,741 thousand in Q4 2023; full-year net loss was SEK -29,425 thousand, down from SEK 1,180 thousand profit in 2023.

• Strategic transformation continued, with further divestment of oil & gas assets and expansion in sustainable investments and healthtech.

• Board strengthened with two new independent directors; company transitioned listing to NGM Nordic SME in January 2025.

Financial highlights

• Unrealised changes in property values contributed SEK 40,440 thousand in 2024, compared to a negative SEK -46,546 thousand in 2023.

• Net financial items for 2024 were SEK 9,663 thousand, down from SEK 157,162 thousand in 2023, mainly due to lower exchange rate effects.

• Cash and cash equivalents increased to SEK 258,888 thousand at year-end, up from SEK 121,428 thousand.

• Equity per share rose to SEK 1.02 from SEK 0.96 year-over-year.

• Earnings per share for 2024 were SEK -0.05, compared to SEK 0.02 in 2023.

Outlook and guidance

• Focus for 2025 includes reducing currency exposure in Angola, expanding sustainable investments, and pursuing new partnerships and geographical markets.

• Ongoing efforts to resolve outstanding liabilities related to the SmarTee acquisition and to finalize the C-View property sale.

• AccYou Rate projects in Italy expected to finalize in summer 2025; further expansion into new regions and sectors planned.