Foamit (FOAMIT) H2 2024 earnings summary

Executive summary

• Achieved strong financial results in 2024, with significant improvement in profitability and balance sheet strength year-over-year.

• Strategic focus sharpened on Foamit Group, with major investments and divestment of non-core assets.

• Returned to stable dividend payments, with a proposed payout of €0.11 per share.

Financial highlights

• Full-year revenue was €41.4 million, down from €50.4 million in 2023, mainly due to the exit of KPA Unicon.

• EBITDA was €5.8 million (2023: €8.2 million); EBIT was €0.9 million (2023: €2.6 million).

• Net profit for the year was €4.7 million, a significant turnaround from a €0.6 million loss in 2023.

• Earnings per share rose to €0.13 (2023: -€0.02).

• Cash and cash equivalents at year-end were €28.9 million (2023: €6.7 million).

Outlook and guidance

• No short-term guidance provided due to the nature of the business and ongoing strategic execution.

• Foamit Group targets €100 million revenue and over 20% EBITDA margin by 2028.

• Construction market expected to remain challenging in 2025, but infrastructure segment outlook is positive.