LPKF Laser & Electronics (LPK) H2 2024 earnings summary

Executive summary

• Revenue for 2024 was €122.9 million, a 1.2% decrease year-over-year, with EBIT at -€2.5 million, impacted by extraordinary costs and weak demand in key segments.

• Adjusted EBIT, excluding €2.6 million in restructuring and LTI costs, was €0.1 million.

• Free cash flow improved to €1.9 million, mainly due to reduced inventories and net working capital.

• No dividend proposed for 2024; resources will be reinvested for future growth.

Financial highlights

• EBIT margin dropped to -2.1% from 3.0% in 2023; adjusted EBIT margin was 0.0%.

• Net loss after tax was €-4.5 million; diluted EPS was €-0.18.

• Equity ratio increased to 69.7% (from 64.1%); net cash position nearly balanced.

• Investments in property, plant, equipment, and intangibles totaled €7.5 million.

• R&D expenses were €17.4 million (14.2% of revenue), with 212 R&D employees.

Outlook and guidance

• 2025 revenue expected between €125–140 million, with adjusted EBIT margin of 6–9%.

• Q1 2025 revenue guidance: €25–28 million, adjusted EBIT between €-3.5 and €-1.5 million.

• Medium-term ambition: upper single-digit growth in core business, low three-digit million revenue from new areas, and double-digit EBIT margin.