Lime Technologies (LIME) Q4 2024 earnings summary

Executive summary

• Achieved 19% revenue growth and 25–26% EBITDA/EBITA margin for Q4 and the full year, driven by recurring revenue and ARR expansion, despite challenging markets.

• Expanded to seven markets, including the acquisition of PlanPlan and SportAdmin, with total employees reaching around 500.

• 65% of revenue is recurring, reflecting a successful transition to a subscription model and low customer concentration.

• Proposed dividend of SEK 4 per share, totaling SEK 53.2 million, representing 60% of net profit.

• High recruitment pace with 95 new hires in 2024 and a record number of applicants.

Financial highlights

• Q4 net sales reached SEK 183.9 million, up 19% year-over-year; full-year net sales were SEK 685.7 million, also up 19%.

• ARR grew 30% year-over-year, with subscription revenue up 33% over the last 12 months.

• Q4 adjusted EBITA was SEK 47.5 million (26% margin); full-year EBITA margin was 25%.

• Q4 EBITDA was SEK 57.2 million (31% margin); full-year EBITDA was SEK 211.2 million (31% margin).

• Net Debt to EBITDA ended at 0.9x, well below the target of 2.5x.

Outlook and guidance

• Focus for 2025 is on strengthening international markets, product development, and profitability, especially outside the Nordics.

• Medium-term targets: annual net sales growth above 18% and EBITA margin above 25%.

• M&A pipeline remains active, with ongoing prospecting for further acquisitions and tech additions.

• Dividend policy aims to distribute at least 50% of net profit.