EcoRub (ECO) Q4 2024 earnings summary

Executive summary

• Net sales increased by 29% in Q4 2024, excluding prior period booking errors; full-year net sales up 7% year-over-year.

• EBITDA and EBIT for Q4 were negatively impacted by one-time costs and accounting errors, but adjusted figures show significant improvement.

• New CEO Johan Westin appointed in January 2025, with strengthened sales team and expanded market presence in Germany.

• Major orders received post-quarter, including a SEK 1.3 million order from Granngården for new stall mats.

• Ånäset recycling facility fully operational, supporting long-term strategic goals and secured by a 10-year contract with Svensk Däckåtervinning.

Financial highlights

• Q4 2024 net sales: SEK 2.45 million (SEK 3.34 million adjusted for booking error), up 29% year-over-year.

• Full-year 2024 net sales: SEK 11.8 million, up 7% from 2023.

• Q4 EBITDA: SEK -3.55 million; adjusted EBITDA: SEK -0.71 million (improved 67% year-over-year).

• Q4 EBIT: SEK -4.77 million; adjusted EBIT: SEK -1.93 million (improved 31% year-over-year).

• Full-year result after financial items: SEK -10.7 million (improved 16% year-over-year).

• Cash flow from operations improved by 38% year-over-year.

Outlook and guidance

• Focus on expanding product portfolio and entering new markets, especially in Europe.

• Strategic partnerships and innovation to drive future growth and competitiveness.

• Continued alignment with EU taxonomy and CSRD for sustainable value creation.