Roblon (RBLN) Q4 23/24 earnings summary

Executive summary

• Achieved a positive result in continuing operations for 2023/24, with revenue of 245.4 mDKK and EBIT before special items of 29.3 mDKK (EBIT margin 11.9%).

• Initiated a divestment process for the US subsidiary due to adverse market and competitive conditions; process expected to conclude by March 2025.

• Focus for coming years will be on EMEA and select overseas customers, leveraging growth in digital and energy infrastructure.

• Leadership changes included reducing the executive board from three to two members, with a new CEO and Co-CEO/CFO appointed in May 2024.

Financial highlights

• Order intake: 236.9 mDKK (2022/23: 202.7 mDKK).

• Revenue: 245.4 mDKK (2022/23: 245.0 mDKK).

• Gross profit: 149.3 mDKK (127.5 mDKK), gross margin 60.8% (52.0%).

• EBITDA before special items: 44.9 mDKK (27.3 mDKK).

• EBIT before special items: 29.3 mDKK (10.0 mDKK), EBIT margin 11.9% (4.1%).

• Net result from continuing and discontinued operations: -9.6 mDKK (-4.6 mDKK).

• Cash flow from operations: 56.2 mDKK (17.8 mDKK).

• Year-end liquidity: 101.9 mDKK (66.2 mDKK).

• Equity ratio: 71.4% (57.0%).

Outlook and guidance

• 2024/25 revenue expected at 210–240 mDKK (2023/24: 245.4 mDKK).

• EBITDA before special items expected at 30–40 mDKK (2023/24: 44.9 mDKK).

• EBIT before special items expected at 16–26 mDKK (2023/24: 29.3 mDKK).

• Special items related to US subsidiary sale expected at 2.5–4 mDKK.

• Guidance excludes discontinued US subsidiary; significant uncertainty due to ongoing geopolitical and FOC market challenges.