Qflow (QFLOW) Q4 2024 earnings summary

Executive summary

• Net sales grew 65% year-over-year in Q4 2024 to SEK 297 million, with organic growth of 13%.

• Full-year net sales rose 101% to SEK 891 million, driven by acquisitions and organic growth.

• EBITA increased 31% in Q4 and 101% for the full year, reflecting both organic and acquired growth.

• The group expanded to 19 companies, including the acquisition of Moresco Projektledning AB in December.

Financial highlights

• Q4 pro forma net sales were SEK 308 million, up 9% year-over-year; pro forma adjusted EBITA rose 2% to SEK 56 million.

• Full-year pro forma net sales reached SEK 1,060 million, up 6%; pro forma adjusted EBITA decreased 2% to SEK 174 million.

• Q4 operating profit was SEK 17 million, with a full-year operating profit of SEK 29 million.

• Cash flow from operating activities improved to SEK 61 million in Q4 and SEK 103 million for the year.

• Cash and cash equivalents at year-end were SEK 204 million, with an equity ratio of 51%.

Outlook and guidance

• Demand for services remains stable, with new contracts secured in infrastructure and construction.

• The company is well-positioned for future growth, supported by long-term project assignments and successful onboarding of consultants.