Ecoclime Group (ECC) Q4 2024 earnings summary

Executive summary

• Revenue declined 29.7% in Q4 to 44.1 MSEK and 13.6% for the year to 197.1 MSEK, reflecting a challenging property sector and project delays.

• EBIT fell to -15.3 MSEK in Q4 and -45.5 MSEK for the year, impacted by weak sales, project delays, and one-off costs.

• Sale of Miljöbelysning completed in December, providing a 13 MSEK cash inflow and significant non-cash write-downs.

• Focus shifted to cash flow, stability, and organic growth, with positive operational cash flow in Q4.

Financial highlights

• Q4 net income: -15.7 MSEK; full-year net income: -80.6 MSEK, with -34.1 MSEK from discontinued operations.

• Q4 EPS: -0.34 SEK; full-year EPS: -1.74 SEK.

• Q4 operating cash flow: 9.1 MSEK; full-year: -3.1 MSEK, a marked improvement from -11.0 MSEK in 2023.

• Equity at year-end: 152.4 MSEK (3.23 SEK/share); cash position: 42.8 MSEK.

Outlook and guidance

• Market expected to bottom in Q1 2025, with gradual recovery anticipated from autumn 2025.

• Evertherm and Team Wessman see strong interest and secured projects for Q1 2025, but Q1 expected to remain weak before improvement in Q2.

• Focus on profitability, organic growth, and cash flow, with new CEO appointed for 2025.