Honkarakenne (HONBS) Q4 2024 earnings summary

Executive summary

• Net sales for 2024 were EUR 36.7 million, down 21% year-over-year; adjusted operating profit was EUR -2.3 million (EUR 0.3 million in 2023).

• Order book at year-end was EUR 22.2 million, up 18% from the previous year.

• Financial position and equity ratio remained strong despite lower sales and profit.

• Board proposes no dividend or capital repayment for 2024.

Financial highlights

• H2 2024 net sales: EUR 22.2 million (-5% year-over-year); H2 adjusted operating profit: EUR 0.4 million (EUR 0.1 million in H2 2023).

• Full-year operating profit: EUR -2.4 million (EUR -0.1 million in 2023); adjusted profit before taxes: EUR -2.6 million (EUR 0.2 million in 2023).

• Earnings per share: EUR -0.37 (EUR -0.04 in 2023).

• Net financial liabilities: EUR -0.5 million (EUR -3.0 million in 2023); equity ratio: 59.7% (64.3%).

• Gross investments: EUR 1.4 million (EUR 1.8 million in 2023); R&D costs: EUR 0.5 million (1.5% of net sales).

Outlook and guidance

• 2025 net sales expected at EUR 38–45 million, flat or slightly higher year-over-year.

• Operating profit guidance for 2025: EUR -2.6 to 0.0 million.

• Outlook based on higher order book, but market uncertainty and financing conditions remain risks.