Rejlers (REJL-B) Q4 2024 earnings summary

Executive summary

• Net sales for 2024 rose 8.4% year-over-year to SEK 4,430.7 million, with organic growth of 4.8%.

• EBITA reached a record SEK 352.3 million, up 15.1% from 2023, with an EBITA margin of 8.0%.

• Q4 EBITA exceeded SEK 100 million for the first time, despite SEK 10 million in restructuring costs in Norway.

• Net profit after tax increased to SEK 221.8 million, and EPS before dilution rose to SEK 10.03.

• The Board proposes a dividend of SEK 5.00 per share, up from SEK 4.50.

Financial highlights

• Q4 net sales grew 8.0% year-over-year to SEK 1,223.3 million; organic growth was 6.8%.

• Q4 EBITA was SEK 103.4 million (8.5% margin); adjusted EBITA was SEK 113.4 million (9.3% margin).

• Full-year EBITA margin improved to 8.0% (7.5% in 2023); adjusted EBITA margin was 8.2%.

• Cash flow from operating activities increased to SEK 407.7 million from SEK 265.9 million.

• Net debt/EBITDA improved to 1.2x from 1.4x; equity/assets ratio rose to 52.4%.

Outlook and guidance

• Organic growth and acquisitions remain high priorities, with updated strategy to be presented in spring 2025.

• Restructuring in Norway expected to lower costs by SEK 10 million annually from Q1 2025.

• Market demand remains strong in energy and infrastructure, with recovery expected in Finland’s infrastructure sector in 2025.