Infortar (INF1T) Q4 2024 earnings summary

Executive summary

• Achieved significant growth in 2024, nearly doubling assets to €2.7 billion and increasing revenue by 26% to €1.37 billion, with net profit of €175 million and EBITDA of €145 million.

• Major investments included increasing the stake in Tallink to 68.5%, acquiring EWE Polska to expand energy operations in Poland, and growing the real estate portfolio to 141,000 sq m.

• Share price rose from €26 to €49 since IPO, with a 70%–92.75% increase and over 6,000 shareholders.

• Exited unprofitable business lines, including taxi services and pharmaceutical wholesale, to focus on core growth areas.

• Restored dividend payments, proposing €3 per share (total €61 million), with a 35% payout ratio and 7% yield at year-end.

Financial highlights

• Consolidated revenue reached €1,372 million for 2024, up from €1,085 million in 2023; Q4 revenue was €446 million.

• EBITDA for 2024 was €145 million; Q4 EBITDA was €28 million, down from €37 million in Q4 2023.

• Net profit for 2024 was €175 million, down from €294 million in 2023; Q4 net loss of €12 million.

• Book value per share increased to €43.34, up 67% year-over-year; assets increased to €2.7 billion.

• Cash balance at year-end was €168 million; equity at €1.17 billion.

Outlook and guidance

• Focus remains on growth, international expansion, and integration of recent acquisitions, especially in energy and infrastructure.

• No specific forecasts for LNG shipments or energy sales; profitability and stable cash flow are key drivers.

• Expectation that energy sector variability will decrease with Polish regulated assets; management anticipates improved maritime results in 2025.

• Continued focus on efficiency and stable dividend policy.