Envirologic (ENVI) Q4 2024 earnings summary

Executive summary

• Achieved record Q4 with net sales of 18.9 MSEK, up 21% year-over-year, and operating profit of 4.6 MSEK.

• Full-year net sales grew 3% to 61.4 MSEK, with operating profit before tax at 14.0 MSEK.

• Strong demand for core products, with 146 robots ordered and 154 delivered in 2024.

• Negative cash flow for the year due to high year-end receivables and inventory, but strong cash flow at the start of 2025.

Financial highlights

• Q4 net sales: 18,908 tkr (15,595 tkr Q4 2023); full-year: 61,446 tkr (59,656 tkr 2023).

• Q4 operating margin: 24.4% (18.0% Q4 2023); full-year: 22.4% (21.0% 2023).

• Q4 EPS after tax: 0.38 kr (0.24 kr Q4 2023); full-year: 1.13 kr (1.03 kr 2023).

• Cash flow from operations: -2.3 MSEK in Q4, -1.2 MSEK for the year.

• Cash and cash equivalents at year-end: 9.1 MSEK (15.2 MSEK 2023).

Outlook and guidance

• Management expects continued demand and sales growth in 2025, supported by new product launches.

• Go Cleaner for chicken barns to launch in H2 2025, with revenue contribution expected in Q4.

• Positive start to 2025 with improved cash flow as receivables and inventory convert to cash.