Polygiene (POLYG) Q4 2024 earnings summary

Executive summary

• Achieved strong growth in 2024, with Q4 sales up 45% year-over-year to SEK 44.7 million and full-year sales up 38% to SEK 156.9 million, reflecting proven business scalability and operational turnaround.

• Board proposed a dividend of SEK 0.05 per share, reflecting a new policy to return 40% of after-tax profit, subject to financial position and investment needs.

• Expanded agent and distributor networks, made strategic partnerships, and launched new products to support future growth.

• Cash flow was robust, ending the year at SEK 68.7 million, with a debt-free balance sheet and high equity ratio of 91.1%.

• Significant turnaround from prior year’s losses, with positive EBITDA and EBIT for both Q4 and full year.

Financial highlights

• Q4 sales reached SEK 44.7 million (up from SEK 30.9 million); full-year sales were SEK 156.9 million (up from SEK 113.5 million).

• Q4 gross margin was 76.1% (up from 70.6%); full-year gross margin was 70.8% (down from 73.2%).

• Q4 EBITDA was SEK 5.9 million (vs. -6 million); full-year EBITDA was SEK 19 million (vs. -12.2 million).

• Q4 EBIT was SEK 4.4 million (vs. -302.4 million, which included a SEK 295 million goodwill write-down last year); full-year EBIT was SEK 13.2 million (vs. -312.6 million).

• Year-end cash position was SEK 68.7 million, with Q4 cash flow of SEK 9.4 million and full-year cash flow of SEK 21.4 million.

Outlook and guidance

• Positive outlook for 2025, with early signs of continued recovery and alignment across teams.

• Management expects continued growth, focusing on product development and expansion in the U.S. and China.

• March expected to be a key month for assessing Q1 performance due to early Chinese New Year.

• The first quarter is seasonally slower, but activity levels remain high.

• Strategic partnerships and innovation projects, such as ShedGuard, are expected to drive future growth.