Plejd (PLEJD) Q4 2024 earnings summary

Executive summary

• Achieved strong organic growth of 26% in Q4 2024, with significant improvement in operating margin driven by stable costs relative to revenue growth.

• Launched two new products: TRM-01 thermostat (initial focus on Norway) and VRI-03 universal dimmer (targeting the Netherlands), supporting international expansion.

• Continued positive momentum expected into 2025, with new product categories and international markets driving further growth.

Financial highlights

• Q4 2024 net revenue: 203,991 tkr (up 26% year-over-year); full year 2024: 662,334 tkr (up 29%).

• Q4 gross margin: 55.1% (51.9%); full year: 53.6% (54.4%).

• Q4 EBITDA: 71,155 tkr (44,520 tkr); margin 34.9% (27.5%). Full year EBITDA: 202,627 tkr (115,032 tkr); margin 30.6% (22.4%).

• Q4 EBIT: 54,039 tkr (29,325 tkr); margin 26.5% (18.1%). Full year EBIT: 134,518 tkr (59,520 tkr); margin 20.3% (11.6%).

• Q4 EPS: 3.82 SEK (2.01); full year EPS: 9.36 SEK (4.11).

• Q4 net income: 42,749 tkr (22,498 tkr); full year: 104,664 tkr (44,959 tkr).

Outlook and guidance

• Management expects the positive trend in operating margin and growth to continue in 2025, supported by new product launches and international market expansion.