IMHO Intermedia House (IMHO) Q4 2024 earnings summary

Executive summary

• Net revenue increased by 59.9% to 25,167 kSEK for 2024, driven by acquisitions and organic growth.

• EBITDA for the year was -1,248 kSEK, down from 829 kSEK in 2023, reflecting integration costs and one-time write-downs.

• Operating result (EBIT) was -13,171 kSEK, and net result -19,681 kSEK, both significantly lower year-over-year due to goodwill and inventory write-downs and a one-off cost from a Danish subsidiary bankruptcy.

• Major acquisitions included Ekström & Garay AB and Historia Group ApS, with the addition of a majority stake in Eleven Stories AB, expanding into film and TV production.

• The company is transitioning to a diversified media group, with a new media division and strengthened management.

Financial highlights

• Q4 net revenue rose 36.2% year-over-year to 7,057 kSEK; full-year revenue up 59.9% to 25,167 kSEK.

• Q4 EBITDA was 361 kSEK (124 kSEK in Q4 2023); full-year EBITDA -1,248 kSEK (829 kSEK in 2023).

• Q4 operating result (EBIT) -6,034 kSEK; full-year EBIT -13,171 kSEK.

• Q4 net result -10,440 kSEK; full-year net result -19,681 kSEK.

• Cash flow from operations for the year was 2,970 kSEK (1,829 kSEK in 2023); cash at year-end 718 kSEK.

Outlook and guidance

• Expecting at least 30 mSEK revenue growth in 2025 from financed film and TV productions.

• Continued focus on acquisitions and organic growth, with the upcoming rights issue seen as critical for financing.