Síminn (SIMINN) Q4 2024 earnings summary

Executive summary

• 2024 marked a new growth phase, with strong results: EBIT ISK 2,875m, net profit ISK 1,389m, and robust Q4 performance driven by TV and mobile growth.

• Billboard integration contributed ISK 1.3b in revenue and nearly ISK 600m in EBIT; Billboard revenue grew 17% year-over-year.

• Strategic acquisitions (Billboard, Noona Iceland, Valitor's loan portfolio) and organizational restructuring supported diversification and growth.

• Digital transformation and data-driven customer focus enhanced retention and operational efficiency.

Financial highlights

• Total 2024 revenue: ISK 27,832m, up ISK 2.1b (8.1%) year-over-year; Q4 revenue: ISK 7,431m, up 11.6%.

• EBITDA: ISK 7,147m (+16.2%); EBIT: ISK 2,875m (+38.3%); Net profit: ISK 1,381m (+2.6%).

• EPS: ISK 0.54, up 17.4% year-over-year.

• Cash flow from operations: ISK 5.8b, up nearly ISK 1b year-over-year.

• Share price rose 35.7% in 2024.

Outlook and guidance

• 2025 outlook: EBITDA ISK 7.0–7.4b, EBIT ISK 3.6–4.0b (excluding amortization from acquisitions), CAPEX ISK 2.8–3.1b.

• End of English Premier League contract expected to reduce investments and positively impact cash flow and EBIT, but negatively affect EBITDA.

• Noona Iceland and new loan portfolio to be fully included in 2025 results.