Orell Füssli (OFN) H2 2024 earnings summary

Executive summary

• Revenue increased by 8.7% year-over-year to CHF 252.5m, marking the third or fourth consecutive year of growth.

• Net profit grew by 19.6% to CHF 17.5m, with all divisions contributing and exceeding internal expectations.

• Strategy execution is ahead of plan, with strengthened market positions and increased profitability despite ongoing investments.

• EBIT rose by 24.5% to CHF 22.6m, with the EBIT margin improving to 8.9%.

• Dividend proposal raised to CHF 4.40 per share, up from CHF 3.90.

Financial highlights

• EBITDA rose 17.8% to CHF 35.1m; EBIT up 24.5% to CHF 22.6m.

• Free cash flow increased 14.6% to CHF 15.7m.

• Operating cash flow reached CHF 28.2m, with investments maintained at prior-year levels (~CHF 12.5m).

• Equity ratio remains strong at 73.8%.

• Number of employees rose to 659 FTEs from 638.

Outlook and guidance

• Revenue and EBIT growth targeted for 2025, with further store openings and digital expansion planned.

• Strategic goals for 2028 reaffirmed: CHF 300m revenue, EBIT margin above 8%, and 60-80% dividend payout.

• The 2028 growth strategy will be systematically pursued, with the second half of 2025 anticipated to be stronger due to seasonality.

• Positive outlook for all divisions, with continued investments in digital business and technology.