Norden Estates (NORDEN) Q4 2024 earnings summary

Executive summary

• Focus on property ownership, management, and consulting with an emphasis on sustainability and energy systems.

• Significant negative result due to write-downs in a subsidiary's housing project.

• Strategic merger with Zustainment AB via non-cash issue to drive growth and innovation.

• Preparation for listing on Spotlight Stock Market in May 2025 to broaden ownership and visibility.

Financial highlights

• Group net sales decreased to SEK 1,850k (2023: SEK 2,650k); parent company net sales SEK 602k (2023: SEK 1,750k).

• Group result after financial items: SEK -7,471k (2023: SEK -6,992k); parent company SEK -7,333k (2023: SEK -7,799k).

• Group equity ratio improved to 30% (2023: 26%); parent company to 22% (2023: 17%).

• Total assets for the group: SEK 26,412k (2023: SEK 33,901k).

• Cash and cash equivalents at year-end: SEK 565k (2023: SEK 1,523k).

Outlook and guidance

• Ongoing new share issue and planned stock market listing expected to support long-term growth.

• Merger with Zustainment AB anticipated to strengthen operations and open new growth opportunities.