Hubso (HUBSO) Q4 2024 earnings summary

Executive summary

• Net sales for Q4 2024 reached SEK 12.5 million, up from SEK 11.4 million in Q4 2023, but full-year sales declined 38% to SEK 22.7 million year-over-year.

• EBITDA for Q4 2024 was SEK 0.2 million, a significant improvement from SEK -4.0 million in Q4 2023; full-year EBITDA was SEK -11.5 million.

• Strategic review led to a phased wind-down of existing operations due to unsustainable business model and identified risks.

• Extraordinary write-down of shares in subsidiary HUBSO AB by SEK 69.5 million.

• Extraordinary general meeting approved a debt-for-equity swap, issuing 40 million new shares to lenders.

Financial highlights

• Q4 2024 net sales: SEK 12.5 million (Q4 2023: SEK 11.4 million); full-year 2024: SEK 22.7 million (2023: SEK 36.3 million).

• Q4 2024 EBITDA: SEK 0.2 million (Q4 2023: SEK -4.0 million); full-year 2024 EBITDA: SEK -11.5 million (2023: SEK -10.8 million).

• Q4 2024 EBIT: SEK -3.6 million (Q4 2023: SEK -15.0 million); full-year 2024 EBIT: SEK -28.2 million (2023: SEK -35.6 million).

• Cash and cash equivalents at year-end: SEK 0.6 million (2023: SEK 2.4 million).

• No dividend proposed for 2024.

Outlook and guidance

• Board and management are evaluating alternative business models and a potential reverse acquisition to restore equity.

• Ongoing process to secure the company’s capital base within eight months following the April 2025 EGM.