Pricer (PRIC) Q4 2024 earnings summary

Executive summary

• Achieved highest-ever EBIT, net profit, and order intake in company history for 2024, reflecting strong growth and a successful transformation phase.

• Major new orders and expanded agreements with S-Group, Canadian Tire, Sobeys, and East of England Co-operative Society contributed to record order backlog.

• Significant product innovation with the launch of Pricer Avenue, receiving strong market interest and positioning as a market innovator.

• Cost reduction program fully implemented, reducing costs by SEK 73 million year-over-year and supporting improved profitability.

• New production facility in Germany reached full production, enhancing operational efficiency.

Financial highlights

• FY 2024 net sales were SEK 2,558.0m, down 4.6% from 2023 due to large prior-year customer invoicing and delayed installations.

• Gross margin improved to 22.0% (from 17.0% in 2023); Q4 gross margin at 24.2%.

• Operating margin for FY 2024 was 7.4% (up from 0.4% in 2023); Q4 EBIT margin at 8.1%.

• Net profit for FY 2024 was SEK 132m, a turnaround from SEK -48m in 2023.

• Cash flow from operating activities improved to SEK 58.0m (from SEK -76.1m in 2023), despite negative impact from discontinued factoring.

Outlook and guidance

• Focus for 2025 is on profitable growth, value-added solutions, and delivery on a strong order book, with investments in sales, R&D, and integrated solutions.

• Prioritizing growth in North America, UK, Southern Europe, and key retail segments such as hypermarkets, supermarkets, pharmacies, and DIY.

• No formal OpEx or financial forecast, but costs expected to rise moderately due to inflation and headcount, not at the same pace as net sales.

• Strong order backlog to be delivered mainly in 2025.