HomeMaid (HOME) Q4 2024 earnings summary

Executive summary

• Achieved record results for Q4 and full year 2024, with revenue up 13.8% to 501 MSEK and EBITA up to 40 MSEK, driven by strong growth in Home Cleaning and improved margins from operational efficiency.

• Q4 growth was 8.2% year-over-year, with EBITA margin rising to 8.5% from 5.4% and continued customer inflow and reduced churn in the subscription base.

• Board proposes a dividend increase to 1.25 SEK per share, up 25%.

• Two acquisitions in Q4 (Sundsvall and Jönköping) to strengthen local presence and future growth.

Financial highlights

• Q4 net revenue rose 8.2% to 135,177 kSEK; full-year revenue up 13.8% to 500,916 kSEK; EBITA for Q4 at 11,518 kSEK (margin 8.5%), full-year EBITA at 40,123 kSEK (margin 8.0%).

• Q4 EBITDA margin at 11.5%; full-year EBITDA at 56,159 kSEK (margin 11.2%).

• EPS for 2024: 1.38 SEK (0.79 SEK in 2023); Q4 EPS: 0.43 SEK (0.21 SEK in Q4 2023).

• Personnel costs rose 3% in Q4 and 7% for the year, reflecting operational efficiencies.

• Cash flow from operations increased to 34,792 kSEK for the year (from 16,501 kSEK in 2023).

Outlook and guidance

• Subscription revenues provide a stable income base.

• Home Cleaning expected to continue positive development as inflation and interest rates stabilize.

• Corporate segment seen as having recovery potential with economic upturn and internal efficiency measures.

• Continued focus on efficiency and customer acquisition for future growth.