Medicortex International (MEDFIN) Q4 2024 earnings summary

Executive summary

• Revenue declined sharply year-over-year, with significant cost reductions and asset write-downs impacting results.

• Focus remained on completing the reverse acquisition of Brasserie Gruppen and divesting non-core holdings.

• The company proactively wrote down assets by approximately SEK 10 million each at the parent and group level.

Financial highlights

• Q4 group revenue was SEK 1,430k (down 63% YoY); full-year group revenue SEK 7,148k (down 62% YoY).

• Q4 group operating result was SEK -1,363k (improved from -3,976k YoY); full-year SEK -7,393k (from -8,057k YoY).

• Q4 group net result attributable to parent shareholders was SEK -11,576k (from -15,874k YoY); full-year SEK -23,117k (from -22,444k YoY).

• Q4 parent company net result was SEK -10,951k (from 1,905k YoY); full-year SEK -19,932k (from -752k YoY).

• Cash flow from operations improved to SEK -814k in Q4 (from -3,829k YoY); full-year SEK -8,431k (from -9,564k YoY).

Outlook and guidance

• Management remains committed to completing the Brasserie Gruppen acquisition and expects it to create new growth opportunities.

• Continued focus on cost control, divestment of non-core assets, and strengthening the financial position.

• No dividend proposed for 2024.