Enento Group (ENENTO) Q4 2024 earnings summary

Executive summary

• Net sales for FY 2024 were EUR 150.4 million, down 3.6% year-over-year at comparable FX rates, with Q4 net sales at EUR 37.8 million, down 2.6% year-over-year.

• Adjusted EBITDA for FY 2024 was EUR 52.0 million (margin 34.6%), a 9.0% decrease year-over-year; Q4 Adjusted EBITDA was EUR 11.7 million (margin 30.9%).

• Business Insight segment grew in Finland, Norway, and Denmark, while Consumer Insight declined due to weak consumer credit demand, especially in Sweden.

• Efficiency program delivered over EUR 10 million in cost savings, supporting profitability amid challenging market conditions.

• Several new services launched in fraud prevention, open banking, compliance, and ESG real estate, with strong traction in Sweden.

Financial highlights

• Q4 2024 net sales were EUR 37.8 million, down 2.6% year-over-year at comparable FX rates, mainly due to continued pressure in Consumer Credit information services.

• Adjusted EBITDA for FY 2024 was EUR 52.0 million (margin 34.6%), with Q4 Adjusted EBITDA at EUR 11.7 million (margin 30.9%).

• Free cash flow for FY 2024 was EUR 30.7 million, with Q4 free cash flow at EUR 7.1 million.

• Net debt to Adjusted EBITDA was 2.7x at year-end, up from 2.4x in 2023.

• Basic EPS for FY 2024 was EUR 0.51, down from EUR 0.74 in 2023.

Outlook and guidance

• 2025 net sales expected in the range of EUR 150–156 million; Adjusted EBITDA expected between EUR 50–55 million, assuming stable FX rates.

• Dividend proposal for 2024 is EUR 0.5 per share, with a potential second installment of up to EUR 0.5 per share in November 2025.

• Focus for 2025 includes efficiency actions, retaining market leadership, growing new services (fraud prevention, open banking, compliance, ESG), and expanding in new verticals and mid-sized customers.

• Swedish consumer credit market faces structural changes and new regulations, expected to impact 2025 performance.